Key facts
- Tokenized real-world assets on the XRP Ledger (XRPL) have grown to over $4 billion from approximately $150 million a year ago.
- Spot XRP ETFs have achieved an 8-week streak of consistent inflows, accumulating $1.49 billion in net inflows.
- New XRP wallets have seen a significant increase, rising from 18.1K to 26K in recent weeks.
- XRP price has recovered by over 14%, currently trading around $1.13.
- XRP futures open interest has increased to $2.38 billion.
XRP is experiencing a surge in demand from multiple sources simultaneously, including real-world asset (RWA) tokenization on the XRP Ledger (XRPL), inflows into spot XRP Exchange Traded Funds (ETFs), and a notable increase in new XRP wallets. Evernorth, a digital asset treasury firm backed by Ripple, reported these developments amidst a significant recovery in XRP's price.
Tokenized RWAs on the XRPL network have seen substantial growth, increasing from approximately $150 million a year ago to over $4 billion. Evernorth highlighted that more than 500 products are now live on XRPL, with JMWH and the Ondo Short-Term Government Bond Fund leading the way, representing nearly $2.5 billion in value. This growth occurred despite a bear market, and follows a successful cross-border tokenized treasury settlement involving JPMorgan, Ripple, Mastercard, and Ondo Finance, which was completed in about four seconds.
Following the RWA tokenization trend, spot XRP ETFs have recorded consistent capital inflows, totaling $1.49 billion in cumulative net inflows over an 8-week streak. Last week alone, these ETFs saw $17.19 million in inflows, contributing to a total of $1.05 billion in net assets under management. Evernorth interprets these inflows as a signal of increasing institutional participation bridging traditional finance with the crypto market.
The recent recovery in XRP's price, which has gained over 14% and is currently trading around $1.13, is also attributed to a significant rise in new wallets. The number of new wallets increased from 18.1K to 26K within a few weeks, marking the highest weekly count since March. Additionally, data from CoinGlass indicates substantial buying activity in the derivatives market, with total XRP futures open interest jumping 1% to $2.38 billion in the last four hours.