It has been pointed out that the core of the controversy surrounding Ripple (XRP) is skewed toward 'price' rather than technology. However, actual usage data for the XRP Ledger is already showing trends different from market assessments.
Recently, cryptocurrency analyst X Finance Bull argued that attention should be paid to on-chain data rather than the price of XRP. He emphasized that the scale of Real-World Asset Tokenization (RWA) currently underway on the XRP Ledger (XRPL) is growing rapidly, demonstrating that "real-world adoption" has already begun.
On-chain growth diverging from XRP price
Ripple (XRP) rose to $1.60 (approx. 2,406 won) last week but hit resistance and has returned to the current level of $1.42 (approx. 2,136 won). Amid this price trend, investors continue to show a tendency to judge adoption based on 'price'.
However, XRPL data presents a different picture. Currently, over $804 million (approximately 1.2097 trillion KRW) in real-world assets are tokenized and distributed in the XRP Ledger.
If we look at the details
- Stablecoin: $399.9 million
- Tokenized U.S. Treasury Bonds: $277.5 million
- Corporate Credit: $82 million
- Asset-backed credit: $23.9 million
- Active Strategy Product: $21 million
This figure suggests that XRP is expanding beyond a simple payment asset into 'financial infrastructure'.
Stablecoins and government bond tokenization are driving growth.
In particular, the stablecoin sector has grown by about 50% in recent months, approaching $400 million. At the center of this growth is RLUSD.
XRPL is also growing its presence in the tokenized U.S. Treasury market. According to the RWA data platform RWA.xyz, XRPL once accounted for approximately 63% of the circulating supply of OpenEden's TBILL products.
Growth has continued since then. Doppler Finance and Open Eden announced a partnership to expand the XRPL-based real-world asset profit structure by utilizing the income-generating stablecoin USDO with TBILL.
'Institutional Adoption' Progressing Faster Than Price
It is worth noting that funds are still flowing into XRPL-based assets. Despite the overall market downturn in 2026, the infrastructure-centric growth trend is being maintained.
The actual daily trading volume of XRPL has tripled over the past year. This is interpreted as an indicator showing that 'institutional usage' is expanding, rather than being centered on individual investors.
However, despite this on-chain growth, the price of XRP is not fully reflecting it. While the market still evaluates XRP based on 'price,' data suggests that it has already entered a different phase.
Ultimately, analysis suggests that the future direction of XRP depends more on how quickly the XRPL-based real-world financial infrastructure expands than on short-term price fluctuations.
🔎 Market Analysis
While the price of XRP appears stagnant due to short-term volatility and resistance, on-chain data shows a completely different trend.
With XRPL-based real assets (RWA) exceeding $800 million, 'actual adoption' relative to price is already underway.
In particular, institutional-led capital inflows and increased trading are interpreted as key signals.
💡 Strategic Points
It is necessary to analyze on-chain indicators (RWA size, trading volume) in parallel with short-term prices.
The expansion of stablecoin and government bond tokenization is highly likely to act as a key trigger for institutional adoption.
If the price is in a range where it is undervalued relative to the data, a mid-to-long-term approach may be effective.
📘 Glossary
XRPL: A blockchain-based distributed ledger system developed by Ripple
RWA (Real Asset Tokenization): A structure that enables the trading of government bonds, credit, assets, etc., on the blockchain.
Stablecoin: A cryptocurrency whose value is pegged to a specific asset, such as the US dollar.
Government Bond Tokenization: A method of converting U.S. Treasury bonds into digital asset form for trading.
💡 Frequently Asked Questions (FAQ)
Q.
Why is it evaluated positively despite the sluggish price of XRP?
While the current price of XRP is influenced by market sentiment and short-term supply and demand, the tokenization of real-world assets and trading volume are steadily increasing on XRPL. In other words, there is a discrepancy between price and actual usability, and based on data, adoption is already underway.
Q.
Why is XRPL's real-world asset tokenization important?
The fact that government bonds, stablecoins, and credit assets are traded on the blockchain signifies an expansion beyond simple cryptocurrencies into actual financial infrastructure. This is particularly significant in that it serves as a foundation for institutional capital to participate.
Q.
Is there a possibility that the price of XRP will rise in the future due to on-chain growth?
In the long term, there is a possibility that increased on-chain utilization will be reflected in prices. However, in the short term, market sentiment and the macroeconomic environment have a greater impact, so it is important to consider on-chain data and market trends together.
TP AI Important Notes
The article has been summarized using a language model based on TokenPost.ai. Key points of the text may be omitted or inaccurate.
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