XRP Ledger (XRPL) has outpaced major blockchains including Ethereum and Solana in net inflows into tokenised real-world assets (RWA) over the past 90 days.

On June 16, blockchain media outlet CryptoSlate reported that XRPL recorded $1.9 billion in net inflows over the past 90 days, topping Ethereum’s $1.6 billion and Stellar’s $1.4 billion.

BNB Chain followed with $848 million, Solana with $611 million, Avalanche with $362 million, Sei Network with $202 million, and Mantle with $90 million. The figures do not mean XRPL has taken leadership of the tokenised asset market from Ethereum. Ethereum still accounts for 52.8 percent of total tokenised RWA value tracked by RWA.xyz and holds about $17 billion in assets.

The key is the pace of short-term inflows rather than overall totals. Over the past three months, funds have flowed into XRPL more quickly, strengthening its presence among layer-1 blockchains competing for institutional issuance. Evernode also viewed XRPL’s growth path as among the top tier of existing major networks. It described the inflows as closer to “one-off large-scale execution” than fragmented retail trading flows.

RWA on XRPL is also tallied in a two-tier structure. The representative asset value that uses the ledger for asset tracking, compliance and structural representation is about $3.6 billion. By contrast, the value of distributed assets actually settled and circulated within decentralised protocols was estimated at $360.25 million. Commercial banks and asset managers are using this structure to test the efficiency of tokenised bond and fund products.

Payments infrastructure is also growing. XRPL’s stablecoin market capitalisation rose 73.44 percent over the past 30 days to $907.63 million. Over the same period, stablecoin transfer volume increased 90.90 percent to $4.86 billion. Ripple is absorbing such institutional demand by expanding payment rails through corporate integration and strengthening operations for payments linked to RLUSD.

The XRP market itself also showed signs of recovery. XRP tested an intraday $1.29 and then traded around $1.24. The rise is seen as coming amid broader strength in the crypto market helped by a peace agreement between the United States and Iran.

Actual flows were not evenly distributed by region. CryptoQuant data showed XRP trading concentrated in the South Korean market, especially on Upbit. Upbit’s dominance of global XRP wallet flows jumped to 31 percent on June 14 from 13 percent on June 7, the highest since May 2024. Coinbase fell to 0 percent on June 14 from 27 percent on May 7, while Binance slipped to 13 percent from 16 percent and Crypto.com dropped to 3 percent from 9 percent. That suggests current participation relies more on fund rotation within East Asian exchanges than on broader retail buying across the United States and Europe.

The derivatives market also appears closer to a gradual recovery than overheating. Binance’s 30-day average XRP futures open interest rose to its highest level in about four months. CryptoQuant put total open interest at about 486.8 million XRP, with the 30-day moving average at 484.8 million XRP. The open-interest Z-score, however, stayed at 0.19. With the indicator within a “normal historical range”, the current build-up in positions is seen as closer to a gradual accumulation of directional bets and hedging demand than to a surge in unhedged leverage.

Ultimately, the recent rebound in XRP is read as not only a price move but also the combined result of XRPL’s RWA inflows, expanded stablecoin payments, a concentration of spot trading centred on Upbit, and a rebuilding of futures positions. Ethereum’s advantage remains clear in total tokenised assets, leaving the next focus on whether XRPL can turn short-term inflow speed into a long-term gain in share.