The XRP Ledger has slipped in the global ranking of real-world asset tokenization protocols, signaling fresh pressure in a fast-growing market. Recent data places the network outside the top ten chains by on-chain RWA value. The shift highlights rising competition as multiple blockchains race to secure institutional tokenization flows.

XRP Ledger Loses Ground in RWA Rankings

The XRP Ledger now ranks 11th among blockchain networks by tokenized real-world asset value. Data from DeFiLlama shows the chain holds about $61.86 million in RWA market capitalization. This update pushed the network out of the top ten list.

Meanwhile, Plume Network overtook XRP Ledger with $74.02 million in tokenized assets. The change reflects steady inflows to emerging RWA-focused chains. As a result, XRP Ledger lost visibility in a sector it aims to dominate.

The broader tokenization market continues to expand across major layer one networks. Ethereum leads the sector with more than $13.3 billion in on-chain RWA value. Other chains, including BNB Smart Chain, Solana, Arbitrum, and Aptos, hold multi-billion dollar positions.

Ripple Labs Expands Tokenization Efforts on XRPL

Despite the ranking drop, Ripple Labs continues to push tokenization initiatives on the XRP Ledger. The company has introduced network amendments to improve asset issuance and compliance features. These upgrades aim to attract more institutional issuers to the chain.

Ripple Labs recently facilitated the tokenization of $280 million worth of diamonds on the XRPL mainnet. The move added a significant real-world asset category to the ecosystem. It also demonstrated the network’s capacity to support high-value commodities.

Over the past year, Ripple Labs has formed partnerships to expand enterprise adoption. The firm has targeted asset managers and fintech companies seeking blockchain settlement tools. Through these efforts, Ripple aims to strengthen XRPL’s long-term RWA footprint.

RWA.xyz Data Highlights Contrasting Market Views

While DeFiLlama shows a modest valuation, RWA.xyz presents a different assessment of XRPL activity. The platform estimates more than $1.9 billion in tokenized products on the network. This discrepancy underscores differences in tracking methodologies across analytics providers.

Earlier reports indicated that XRP Ledger surpassed Solana in certain tokenization metrics. Those figures reflected asset representation rather than strict on-chain market capitalization. As a result, platform definitions shape how each ranking appears.

The competition for RWA dominance continues to intensify across blockchain ecosystems. Developers across multiple chains now optimize compliance, custody, and settlement tools. Consequently, XRP Ledger faces a more crowded field as tokenization gains global traction.

Real-world asset tokenization has emerged as a central theme in blockchain adoption strategies. Financial institutions increasingly test blockchain rails for bonds, commodities, and funds. Therefore, market share in this segment carries strategic weight.

XRP Ledger entered the tokenization race early, yet rivals have accelerated deployments. Larger ecosystems currently benefit from deeper liquidity and broader developer bases. Even so, XRPL stakeholders continue to position the chain for future growth.

The latest ranking shift reflects short-term metrics rather than structural retreat. However, sustained inflows into competing networks could reshape long-term positioning. For now, XRP Ledger operates in a market where scale and execution define leadership.