Ripple marked a new milestone by ranking 28th on CNBC’s annual “Disruptor 50” list.

Recently CNBC’s eighth annual list of venture-backed startups by the name of “Disruptor 50”, was published on Tuesday. The main objective of the list was to pinpoint and recognize “private companies whose breakthroughs are influencing business and market competition at an accelerated pace.”

According to the list,

Blockchain payment network Ripple has taken 28th place on CNBC’s eighth annual list of venture-backed startups “Disruptor 50

Other than Ripple, Robinhood has also ranked 46th on the list. CNBC further explained;

The start-ups making the 2020 Disruptor list are at the epicenter of a world-changing in previously unimaginable ways, turning ideas in cybersecurity, education, health IT, logistics/delivery, fintech, and agriculture into a new wave of billion-dollar businesses

Evaluation method for the list:

Around,355 startups were chosen, out of which only 180 companies were finalized. After this, a further evaluation step was added in which companies were asked about the effect of the pandemic on their growth. The announcement also added;

Many, especially those that ended up on the final list, responded with positive stories of surging demand, hiring, new product launches, and product pivots to help with various challenges brought on by the virus,

For now, Ripple’s ranking on CNBC’s list doesn’t have had any significant impact on the price of its token, although XRP is seeing slightly bigger gains on the day compared to other cryptos. According to CoinMarketCap, XRP is up 1.81% and trading at around $0.195, ranking in the top 10 cryptocurrencies by market capitalization.

Decrypt has also reported that Ripple significantly expanded its network in January by adding around 50 new partners around the world—reaching a total of 350.

“Unicorn” startups made it to the list:

Furthermore, the majority of startups in the top 50 are already billion-dollar businesses since 36 of them had already achieved the status of “unicorn” in the past, reaching valuations of $1 billion and more. In total, CNBC estimates that they raised over $74 billion in venture capital and have a combined market valuation of around $277 billion.

Jacob Brown

Jacob a finance graduate, working as a full-time crypto writer. Jacob is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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