Ripple recently announced that it expects its annualized product revenue run rate to reach $900 million by the end of 2026.
CEO Brad Garlinghouse shared the figure at the company’s Swell 2026 conference in New York City, describing 2026 as an exceptional year for Ripple.
He highlighted rising transaction volumes and the range of products the company offers institutional customers as major factors behind its progress.
The conference, held from Oct. 27 to 29 in New York, attracted more than 1,500 attendees and over 75 speakers from traditional finance, cryptocurrency, academia, and the wider XRP ecosystem.
The $900 million figure does not represent the total revenue Ripple has earned so far in 2026, but the annualized run rate, which projects the company’s current revenue pace over a 12-month period.
Ripple uses this measure to show how much its product business has grown. However, its actual revenue for the full year will depend on customer activity, market conditions, and demand for its products.
Ripple Sees Growth Across Multiple Products
Ripple attributed its revenue growth to increased activity across several business areas, including payments, custody, its RLUSD stablecoin, prime brokerage, and treasury management.
The company also reported that the number of customers and partners using more than one Ripple product at the same time tripled in 2026. This suggests that customers are using more of Ripple’s services instead of relying on a single product.
Ripple expects the total transaction volume processed through its payments network to approach $150 billion by the end of 2026.
Notably, Ripple holds more than 85 regulatory licenses across international markets and serves over 1,700 financial institutions and enterprises worldwide. According to the company, its growth comes from improvements to its existing products and the integration of acquisitions it completed in 2025.
RLUSD Market Cap Climbs to $2.6 Billion
RLUSD has become an important part of Ripple’s business, reaching a market cap of $2.6 billion when the company announced its revenue outlook at Swell 2026. This represents more than 88% growth since the start of the year.
Ripple launched the dollar-backed stablecoin in December 2024 after receiving regulatory approval from the NYDFS. Since then, RLUSD has expanded across several blockchain networks and gained a dominant share of stablecoin activity on the XRP Ledger.
Cross River Bank announced a partnership to integrate RLUSD into its core platform solutions on the XRP Ledger. Ripple also expanded its partnership with the Bank of New York Mellon on tokenized trade finance built on the same network.
XRP Struggles Despite Ripple’s Expansion
Meanwhile, on Oct. 26, the U.S. Office of the Comptroller of the Currency granted Ripple final approval to establish Ripple National Trust Bank.
The approval gives the company federal-level supervisory standing under the OCC and adds to its existing trust license from the New York Department of Financial Services.
Despite Ripple’s business growth, XRP has declined nearly 30% year-to-date, leaving its market cap near $83 billion.
Holding XRP does not give investors direct ownership of Ripple or a share of its product revenue. As a result, the company’s financial performance does not automatically translate into earnings for XRP holders.
However, Ripple’s growth may affect the token indirectly by increasing activity on the network and influencing investor demand.