21shares Sees XRP Demand Growing as XRPL Activity Expands Further

21shares Ties XRP Demand to Fees, Reserves, and Bridge Use

XRP request could yet emergence arsenic tokenized assets and stablecoins grow connected XRPL, according to a thesis 21shares shared connected Sept. 14. The plus manager’s station connected X pointed to $4 cardinal successful tokenized assets and astir $1.6 cardinal successful full RLUSD supply, with much than fractional circulating connected the XRP Ledger. 21shares stated:

“Our thesis is that much enactment yet lifts request for it, not that it’s denominated successful it.”

The Sept. 14 X connection builds connected an investigation published by 21shares connected Aug. 12 by Maximiliaan Michielsen, an concern strategist astatine the crypto plus manager. The investigation described XRP arsenic a span asset that outgo providers tin person into and retired of destination currencies, with colony successful 3 to 5 seconds and transaction costs of astir $0.0002.

Every XRPL transaction burns a tiny magnitude of XRP done an anti-spam mechanics that protects the web from flooding. The basal interest is 0.00001 XRP, and much than 14 cardinal XRP has been burned since 2012, according to the analysis. That full equals astir 0.014% of the archetypal 100 cardinal supply, showing however crypto assets tin provide web inferior beyond transfers without creating a important scarcity effect.

RLUSD proviso expanded rapidly crossed the XRP Ledger and Ethereum, with XRPL increasing to relationship for much than fractional of the stablecoin’s full proviso by mid-2026, according to 21shares.

Stablecoins and Tokenized Assets Broaden XRPL Activity

Stablecoins are becoming a larger constituent of XRP Ledger activity, led by Ripple USD (RLUSD), which 21shares said had astir $1.6 cardinal successful full supply. More than fractional of RLUSD’s full proviso was circulating connected XRPL by mid-2026, marking a displacement from its earlier attraction connected Ethereum.

Rising RLUSD usage has coincided with higher web activity. RLUSD-related transactions connected XRPL roseate from astir 54,000 successful December 2024 to betwixt 600,000 and 1.1 cardinal per period during 2026, according to Evernorth data. The RLUSD/XRP brace processed astir $900 cardinal during the six months done June.

Tokenization represents different root of growth. 21shares estimates that tokenized assets connected XRPL person reached astir $4 billion. The ledger’s Multi-Purpose Token modular provides institutions with infrastructure for issuing bonds, funds, and different tokenized assets, with compliance requirements incorporated into each token’s structure.

That improvement follows a broader propulsion to widen XRP Ledger inferior into tokenized securities, funds, and loans. Ripple CTO Emeritus David Schwartz has identified tokenized stocks, wealth marketplace funds, repos, and lending arsenic areas wherever XRPL infrastructure could enactment fiscal enactment beyond basal transfers.

DeFi Growth Adds Another Route for Network Usage

The XRP Ledger besides includes a decentralized speech astatine the protocol level, allowing issued assets to commercialized straight against different assets without requiring a abstracted speech application. XRP tin service arsenic an intermediary pair, connecting markets wherever a nonstop trading brace lacks capable liquidity.

DeFi remains comparatively small, with 21shares placing the assemblage astatine much than $30 cardinal connected XRPL, but caller lending infrastructure is nether development. Ripple, Clearpool, and Cicada Partners are gathering an organization lending market that would usage RLUSD arsenic the recognition plus and XRPL’s projected Lending Protocol and Single Asset Vault architecture.

The favoritism betwixt XRPL maturation and nonstop XRP usage remains cardinal to the concern thesis. Tokenized bonds, stablecoins, and different issued assets tin beryllium and commercialized connected the ledger without being denominated successful XRP. XRP’s nonstop relation comes done transaction fees, relationship reserves, span liquidity, and situations wherever it serves arsenic an intermediary asset.

21shares truthful frames greater XRPL enactment arsenic a imaginable root of XRP request alternatively than a nonstop one-for-one relationship. The steadfast estimates that the web averaged astir 1.7 cardinal transactions per time and astir $1.3 cardinal successful on-chain worth per time implicit the past year, putting full colony enactment adjacent fractional a trillion dollars.