The XRP LEDGER (XRPL) recorded a strong performance in the second quarter of 2025, according to the research company Messari. The network has seen new tokenized active ingredients, regular growth in the XRP market capitalization, and an increasing imprint for the Stablecoin Rlusd of Ripple. At the same time, income for network costs have dropped, reflecting the unique structure of XRPL costs.
In short
- The XRPL has experienced strong growth in T2 2025, with new Rwas emitted and an increased token activity.
- Real assets on XRPL have reached a market capitalization record at $ 131.6 million in T2 2025.
- XRP closed the T2 2025 as the fourth the largest crypto with $ 132 billion, up 8.5 % compared to the previous quarter.
Real assets are reaching new heights
Messari's “State of XRP Ledger T2 2025” report underlined that the market capitalization of real assets (RWAS) emitted on XRPL climbed to a historic summit of $ 131.6 million at the end of the quarter.
This increase was brought by several programs announced for the first time at the XRPL Apex event in Singapore in June. These included:
- Tokenized real estate of Ctrl Alt;
- Guggenheim digital commercial paper;
- The Treasury tokenized Ousg of Ondo.
Each of these offers has widened the scope of what can be represented and exchanged on XRPL.
The infrastructure has also improved. In March, the Rwa.xyz analysis supplier integrated XRPL into its platform, making it possible to monitor the performance and activity of RWAS emitted on the network. Currently, thirteen Rwas have been added to the platform, other integrations are expected.
XRP closes T2 as the fourth most important cryptocurrency
The quarter also reflected XRP's continuous force, the native Ledger token. At the end of T2 2025, XRP ranked like the fourth most valued cryptocurrency By market capitalization, with a value of $ 132 billion. This represented an increase of 8.5 % compared to the previous quarter, while the price of the XRP increased by 7.1 % over the same period.
The momentum continued after the closure of the quarter. At the time of writing, XRP's market capitalization had further increased to $ 166.8 billion, strengthening its position among the main digital assets.
Transaction costs decrease on XRPL
While the value on the Ledger has extended, the costs of the costs have decreased. Messari stressed that XRPL differs from many other networks in the management of costs. Rather than remunerating validators or stakers, XRPL permanently removes traffic transaction costs.
During the second quarter of this year, the costs collected in US dollars dropped from 38.7 % from one quarter to another, from around 1.1 million dollars to $ 680,900, while the costs measured in XRP decreased by 27.4 %, going from 425,300 XRP to 308,700 XRP.
Stablecoins growth on XRPL and Ethereum
In parallel with these developments, the Stablecoin Rlusd de Ripple has further increased, finishing the T2 with a combined market capitalization of $ 455.2 million between XRPL and Ethereum.
Subsequent data from Rwa.xyz indicate continuous growth. At the time of the editorial staff, the total market value of Rlusd reached $ 701.6 million, up more than 16 % in the last 30 days.
On the XRPL specifically, Rlusd finished the quarter with a market capitalization of $ 65.9 million, an increase of 49.4 % compared to the previous quarter. This makes it the main stablecoin on the Ledger. Current data place its share on XRPL at $ 85.9 million, with an additional $ 615 million issued on Ethereum.
Taken together, the expansion of Rlusd, the historic record for real assets and the regular increase in XRP report a strong momentum. The XRPL has finished the second quarter of 2025 on a positive note, and the coming months will show how the network can rely on this basis while sailing in its distinctive cost model in the face of an increasing demand for assets.
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