XRP (XRP) Price: Supply Grows 5.5% a Year as Network Revenue Drops 81.6%

TLDR

• XRP’s circulating supply grew 5.5% year over year through monthly escrow releases of about 272 million XRP.
• XRPL revenue fell 81.6% year over year, dropping from $6.43 million to $1.18 million.
• 21Shares says revenue would need to rise roughly 12,700-fold to offset a year of new supply.
• RLUSD’s total supply reached $1.56 billion by June 30, with 52% now held on XRPL.
• Aviva Investors launched a tokenized fund on XRPL in July, joining abrdn, Ondo Finance, and Societe Generale.

A new report from 21Shares shows XRP’s circulating supply grew 5.5% over the past year. The growth came from monthly escrow releases, according to an Aug. 19 analysis.

The firm said about 272 million XRP entered circulation each month through these releases and re-locks. Fee burns on the network come nowhere near matching that pace.

21Shares compared XRP to other payment-focused tokens. Toncoin dilutes at 9.6% a year, and Stellar’s XLM dilutes at 8.8%.

Tron was the only asset in the comparison that generated enough revenue to offset its own supply growth. It left holders with a net positive return of 1.4% a year.

For XRP, 21Shares put the number differently: “XRP holders face a net annual drag of 5.5% at current fee levels.”

The report estimated that XRPL revenue would need to climb approximately 12,700-fold to cancel out one year of new supply at today’s market values.

XRP Price on CoinGecko

XRPL Revenue Falls Sharply

The XRP Ledger settled $159.9 billion during the first half of 2026. Despite that volume, reported revenue dropped 81.6% year over year, from $6.43 million to $1.18 million.

Most of the drop came from two areas. Swap pool fees on the ledger’s automated market maker fell 80.3%, and NFT royalties fell 69%.

Standard transaction fees fell 66.3% to $90,800. Under the ledger’s design, XRP paid for these transactions is destroyed rather than given to validators.

Only 10.6% of the $1.18 million in revenue reached holders indirectly through reduced supply. The rest went to liquidity providers and creators.

RLUSD and Institutional Growth

The stablecoin RLUSD showed the strongest growth signal in the same period. Its total supply reached $1.56 billion by June 30.

Of that total, 52% was held on XRPL, up from around 10% a year earlier. 21Shares said the ledger’s stablecoin base expanded 1,131%.

Aviva Investors added to this activity in July. It launched a tokenized share class of its U.S. Dollar Liquidity Fund on XRPL, approved by the Central Bank of Ireland.

Komainu handled custody for the fund, and Licuido supplied the tokenization infrastructure. The launch followed earlier XRPL deployments from abrdn, Ondo Finance, and Societe Generale.

On the ETP side, U.S. spot XRP funds absorbed only 14.8% of the first-half supply increase and recorded net selling in two of six months. May was the strongest month, with ETP buying covering more than half of that month’s new supply, though the group’s $588 million annualized inflow rate still equals roughly one-seventh of annual net supply. Ecosystem data also shows about $4 billion in tokenized assets across more than 500 products on XRPL, alongside continued wallet creation.

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