In 2025, real-world asset (RWA) tokenization on the XRP Ledger exploded by more than 2,200%, rising from approximately $24.7 million in January to $567.9 million by year-end. This surge, while impressive on a percentage basis, reflects rapid growth off a relatively small base. By early 2026, the network hosted roughly $500 million in total tokenized assets, of which $322 million comprised stablecoins and $213 million represented bonds, funds and other regulated instruments. Despite this momentum, XRPL still trails Ethereum’s tokenization volumes, which sit in the tens of billions.

The August 2025 SEC resolution provided the final legal certainty needed for banks and asset managers to engage with XRPL without compliance concerns. Ripple’s acquisition of Hidden Road delivered institutional-grade prime brokerage and settlement capabilities, while the partnership with Archax demonstrated scalable issuance by bringing abrdn’s £3.8 billion liquidity fund on-chain in late 2024. These developments, together with XRPL’s sub-penny transaction fees and three-second settlement times, transformed the ledger into an operationally viable venue for regulated capital flows.

Archax has publicly committed to on-chain issuance of $1 billion by mid-2026, a milestone that would double XRPL’s current RWA base. If combined with additional issuances and organic growth, total tokenized assets could approach $2–3 billion by that point. To reach $5–10 billion by year-end 2026, XRPL would need five to eight more institutional launches of similar scale, coupled with continued regulatory stability in the U.S. and Europe and seamless integration between Ripple’s custody solutions and existing prime brokers.

While RWA tokenization validates XRPL’s ability to host regulated assets at scale, token volume alone does not directly translate into XRP token demand. The critical link is institutional adoption driving XRP-based ETF accumulation and cross-border settlement usage on RippleNet. Sustained growth in tokenized issuance enhances network credibility, which could bolster ETF inflows and create supply contraction. Ultimately, XRP’s price performance will depend on a combination of RWA momentum, ETF demand, and broader cross-border payment traction rather than raw settlement volume.