Data from rwa.xyz shows that stablecoin transfer activity on the XRP Ledger (XRPL) has reached $5.11 billion over the past 30 days.
Notably, this represents a 22.84% increase compared to the previous month. The rise points to stronger on-chain liquidity and also suggests growing use of tokenized cash-like assets across the XRPL ecosystem.
Ondo Fund Becomes Second-Largest Tokenized Asset on XRPL
The same dataset indicates that the Ondo Short-Term U.S. Government Bond Fund is now the second-largest tokenized fund on XRPL.
It is only behind RLUSD-related flows in size and activity. The fund recorded about $259.6 million in transfers during the period, signaling rising institutional interest in on-chain tokenized U.S. Treasury exposure.
The trend suggests that tokenized real-world assets (RWAs) are gaining a more visible role within the XRPL ecosystem.
XRPL Shows $3.66B in Off-Chain RWA Pipeline
Meanwhile, additional data from rwa.xyz reveals that XRP Ledger currently has about $3.66 billion in real-world assets represented off-chain. For comparison, Stellar holds around $79.35 million in similar represented value.
This suggests that XRPL has secured significant institutional commitments in recent months.
Some supporters believe this off-chain pipeline could begin moving on-chain more rapidly as XRPL infrastructure improves. Key upgrades often cited include:
- Confidential transactions
- XLS-66 lending functionality
- Expansion of RLUSD across multiple chains
The argument is that the $3.66 billion in represented assets may not enter the system gradually. Instead, it could move in larger waves once tokenization rails and institutional integrations mature.
XRPL Leads RWA Tokenization With $1.9B Inflows
XRPL’s growing momentum is further strengthened by recent data showing that it recorded the highest net RWA inflows across major blockchains over the past 90 days.
Data from the RWA Foundation confirmed that XRPL attracted $1.9 billion in net RWA inflows (excluding stablecoins), ahead of Ethereum’s $1.6 billion and Stellar’s $1.4 billion.
Moreover, Messari’s Q1 2026 report shows XRPL’s RWA market cap surged 124.1% quarter-over-quarter to $2.25 billion, ranking it seventh globally at the time before rising to fourth. Distributed RWAs on XRPL also climbed to $451.1 million, up 35.6% quarter-over-quarter.
Evernorth data shows XRPL scaled from $10 million to $400 million in tokenized RWAs in ~15 months, compared to ~36 months for Ethereum. Year-to-date growth also favors XRPL, up 78% versus Ethereum’s 36%.
Overall, inflows and adoption trends suggest XRP Ledger is becoming one of the fastest-growing hubs for tokenized real-world assets.
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