As talk of tokenizing real-world assets (RWAs) heats up, Ripple and its XRP Ledger have frequently been at the center of the conversation — and with good reason. Ripple has invested significantly in the space, positioning itself to capture part of what many expect could become a trillion-dollar market. But new data from RWA.xyz shows that despite Ripple’s progress, the XRP Ledger is not the dominant blockchain in RWA activity.
RWA.xyz tracks how blockchains perform across several RWA metrics. By the platform’s measure of total distributed RWA value, Ethereum leads by a large margin — and the XRP Ledger is not in the top five. The top five chains by distributed value are:
- Ethereum: $15.54 billion
- BNB Chain: $3.5 billion
- Solana: $1.949 billion
- Stellar: $1.41 billion
- Liquid Network: $1.32 billion
The XRP Ledger ranks eighth with $458.46 million in distributed value, trailing platforms such as Arbitrum and Avalanche.
User adoption tells a starker story. On RWA.xyz’s user-count metric, the XRP Ledger falls to 10th place with fewer than 5,000 users. By contrast, the leading networks host far larger user bases: Plume has about 259,000 users, Solana 184,000, and Ethereum 164,000.
There is, however, one area where the XRP Ledger posts a relatively strong result: represented value on-chain. ZKsync Era tops this metric with $2.2 billion, and the XRP Ledger follows with $1.5 billion — ahead of Ethereum, Solana, and Plume on this particular measure. That suggests meaningful on-chain activity tied to off-chain assets or representations on XRP’s network.
Overall, the RWA sector is growing rapidly. RWA.xyz reports total Distributed Asset Value across blockchains has surpassed $27.68 billion, with more than 710,000 holders and $441.38 billion in Represented Asset Value.
Bottom line: Ripple and the XRP Ledger are active players in RWA, and they show notable strengths in certain metrics. But according to current on-chain data, several other blockchains — led by Ethereum — are outpacing XRP when it comes to distributed value and user adoption. The field remains competitive and fast-moving, making it one to watch closely.
Read more AI-generated news on: undefined/news
