- XRPL RWA market cap hit $364.2M, +215% QoQ, led by tokenized Treasuries, commercial paper, and real estate; RLUSD on XRPL rose to $88.8M, +34.7% QoQ.
- MPT and DID/permissioned domains added embedded metadata and compliance at the protocol layer to support regulated DeFi and RWA issuers.
- ETF context: multiple spot XRP ETF filings sit under SEC review after new generic listing standards simplified listings; timing remains pending.
Messari’s Q3 report shows XRPL’s RWA market cap at $364.2 million, up 215% QoQ, as issuers scaled tokenized U.S. Treasuries (e.g., OUSG), digital commercial paper (Guggenheim), and real estate projects (Ctrl Alt). RLUSD finished Q3 at $88.8M on XRPL, +34.7% QoQ, the network’s largest stablecoin.
Messari’s XRP Ledger report highlights XRP closed the quarter at $2.85, a 27.2% quarterly increase, with its market capitalization climbing to $170.3 billion, outperforming the combined quarterly growth of Bitcoin, Ethereum, and Solana.
Related: All Eyes on XRP Ledger as It Finally Gets Ethereum Compatibility
Compliance At The Protocol Layer Unlocks Institutions
XRPL introduced Multi-Purpose Tokens (MPTs) that let issuers encode maturity, tranches, transfer rules, and fees directly in token metadata, plus credential-based identity/DID and permissioned domains for access-controlled markets.
The design removes custom-contract risk and maps cleanly to KYC/AML workflows that regulated desks require.
Network Effect: Throughput Rises As RWA Pipelines Expand
The XRPL’s RWA market capitalization rose by 215% quarter-over-quarter to $364.2 million, driven by the growth of tokenized U.S. Treasury funds, digital commercial paper, and real estate projects. Ripple’s U.S. dollar-pegged stablecoin RLUSD reached an $88.8 million market cap on the XRPL, up 34.7% from the prior quarter, making it the network’s largest stablecoin.
Several global institutions increased their XRP exposure or integrated XRPL infrastructure, including Guggenheim’s digital commercial paper, Ondo’s OUSG tokenized bond fund, and Dubai’s property tokenization initiative by Ctrl Alt.
XRP ETF Watch: Filings Pile Up, Rules Now Friendlier
After the SEC’s Sept. 18 vote enabling generic listing standards for spot crypto ETFs across NYSE/Nasdaq/Cboe, issuers advanced multiple spot XRP ETF filings. The policy shift reduces approval timelines, but final decisions and launch dates are still pending. Keep expectations tied to official SEC actions, not speculative lists.
In addition, the average daily XRPL transactions rose by 8.9% to 1.8 million, and new address creation increased 46%. XRP’s year-over-year market capitalization surged by 392%, while the ledger continued to show low transaction fees and enhanced institutional-grade compliance.
Why It Matters For Traders
- Better rails: MPT/DID reduce legal friction for tokenized debt/equity, improving time-to-list for compliant RWAs.
- Broader base: RLUSD’s growth on XRPL supports settlement and liquidity for on-ledger instruments.
- Catalyst path: Friendlier ETF mechanics plus visible RWA scale strengthen institutional adoption narratives heading into Q4 2025.
Related: Ripple’s Q3 2024 Report: XRP’s Legal Win and Growing Institutional Interest
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Source: https://coinedition.com/xrp-ledger-rwa-market-jumps-215-as-compliance-tools-land-etf-hopes-build/
