- Tokenized RWAs on the XRP Ledger surged 56% in the past month to hit $4 billion, overtaking Solana and tying with BNB Chain.
- XRP has continued to dip in the past week as new filings revealed that Goldman Sachs sold off all the XRP it held in Q1.
The XRP Ledger is establishing itself as one of the networks that will shape the tokenization of real-world assets, new data reveals. It now holds over $4 billion in tokenized real-world assets, rising into the top 5 networks and overtaking some established players.
Data from rwa.xyz shows that tokenized assets on XRPL have shot up 56% over the past month, the highest gain among the top 10 networks. Solana recorded the second-highest rise at only 13%, with Stellar ranking third with 9%. Ethereum lost 5.75% of its RWAs, while Canton lost 4.84%.
At $4 billion, the XRP Ledger has added $1 billion in the past three weeks alone. As ETHNews reported, the network’s tokenized assets had surged 8x to hit $3 billion at the end of April.
Justoken maintained its position, with JMWH tokens accounting for $2.2 billion, a 159% surge in the past 30 days. The company has expanded its products to partners such as YPF Luz, one of Argentina’s largest energy providers.
In second place is CRX Digital Assets, another company also targeting the Latin American region. CRX has focused on bringing Brazilian credit products on-chain on XRPL and now accounts for $574 million in tokenized RWAs. Its biggest product is ASENA FIF, a single class of the Asena Multimercado Crédito Privado fund, which gives investors exposure to financial assets such as derivatives and private credit.
CRX’s sharp rise has enabled it to surpass RLUSD, the native stablecoin of the XRPL network, which sits third at $436 million. Vert Capital’s $379 million and Ondo Finance’s $294 million rounds up the top five.
RLUSD Hits $1.6 Billion as Minting Surges, But XRP Drops
RLUSD continues to grow in its role as the XRP Ledger’s stablecoin, with Ripple ramping up minting as demand grows. On Monday, the company minted $53.6 million and burned $5.2 million for a net increase of $48.4 million.
RLUSD’s market cap now stands at $1.615 billion, adding $600 million since the turn of the year. It now ranks as the eighth-largest stablecoin globally, overtaking USDD, the stablecoin issued by Justin Sun’s TRON network.
Despite the ecosystem growth, XRP is still in the red. In the past day, it has dipped slightly to trade at $1.37, bringing its weekly losses to 4%. It has continued to lose ground to BNB, which flipped it a week ago. The gap has now extended to $1.4 billion.
In addition to wider industry headwinds such as the Iran conflict, XRP has now lost another major backer after Goldman Sachs sold off its entire XRP position. According to the bank’s most recent filings, it no longer holds XRP ETFs, which were once worth over $150 million.
