The XRP Ledger reached $2.25 billion in tokenized real-world assets during Q1 2026, a 124% quarterly increase. Messari's latest State of XRP report showed Ripple's RLUSD stablecoin market capitalization rose 45% to $340.3 million, becoming the largest stablecoin on XRPL. The growth reflects rising institutional demand for regulated digital dollars and tokenized assets, despite XRP's 27.1% price decline during the quarter to approximately $1.30 at the time of writing.
RLUSD Market Cap Grew 45% to $340.3 Million in Q1 2026
Ripple's RLUSD stablecoin ended Q1 2026 with a market capitalization of $340.3 million, representing a 45% increase from the previous quarter, according to Messari. The expansion made RLUSD the largest stablecoin operating on the XRP Ledger. The growth supports Ripple's strategy of building institutional-grade financial infrastructure for payment and settlement ecosystems.
Tokenized Assets on XRPL Reached $2.25 Billion
Messari reported that XRPL's real-world asset (RWA) market capitalization reached $2.25 billion by the end of Q1 2026, marking a 124% increase from the previous quarter. The network ranked seventh by RWA market capitalization at quarter-end and has since climbed to fourth place. Financial firms are increasingly exploring tokenized bonds, funds and other real-world assets on blockchain networks.
Daily Transactions Rose 35.3% to 2.48 Million
Average daily transactions on the XRP Ledger increased 35.3% quarter-over-quarter, rising from 1.83 million to 2.48 million per day during Q1 2026. New features that contributed to adoption included Permissioned Domains, Permissioned DEX functionality, Token Escrow upgrades, and identity and compliance tools. Messari also highlighted upcoming lending features that will allow users to lend and borrow XRP directly on the network.
US Spot XRP ETFs Held 775.4 Million XRP at Quarter-End
U.S. spot XRP ETFs collectively held 775.4 million XRP at the end of Q1 2026, representing 1.26% of the circulating supply and a 1.9% increase from the previous quarter, according to Messari. ETF holdings peaked at 810.2 million XRP on March 3. Major funds from Bitwise, Franklin Templeton, Canary Capital and 21Shares continued attracting investor capital throughout the quarter.
FAQ
What was the total value of tokenized assets on XRPL at the end of Q1 2026?
Tokenized real-world assets on the XRP Ledger reached $2.25 billion by the end of Q1 2026, according to Messari's State of XRP report. This represented a 124% increase from the previous quarter.
How much did RLUSD's market capitalization grow during Q1 2026?
Ripple's RLUSD stablecoin market capitalization rose 45% quarter-over-quarter to $340.3 million during Q1 2026, making it the largest stablecoin on the XRP Ledger, according to Messari.
How many XRP did US spot ETFs hold at the end of Q1 2026?
U.S. spot XRP ETFs collectively held 775.4 million XRP at the end of Q1 2026, representing 1.26% of the circulating supply. This was a 1.9% increase from the previous quarter, with holdings peaking at 810.2 million XRP on March 3.
