The conversation around crypto and Real-World Assets (RWA) have often centered Ripple and XRP in recent times. This comes as no surprise, as the crypto firm has made major strides in moving into this potential trillion-dollar market over the last few years, making them one of the most recognizable names in the space. However, when looking at the space as a whole and going through the numbers, it shows that despite Ripple’s efforts, the blockchain is not the leader.
Ripple Falls Behind Others For RWA Value
Data from the RWA.xyz website, which is a website that tracks the RWA market and the performance of blockchains in the space, shows who the RWA leaders are by numbers, and Ripple unfortunately falls behind. While the XRP Ledger is doing decent numbers, other blockchains continue to lead in this regard.
One example of this is that when it comes to the total distributed RWA value, Ethereum is the leading blockchain and not the XRP Ledger. In fact, using this metric, Ripple’s XRP Ledger does not even fall in the top 5 by volume, with competitors taking charge in this regard.
The top 5 RWA chains by distributed value are Ethereum, BNB Chain, Solana, Stellar, and Liquid Network. Their values come out to $15.54 billion, $3.5 billion, $1.949 billion, $1.41 billion, and $1.32 billion, respectively. The XRP Ledger comes in 8th place with $458.46 million, putting it behind the likes of Arbitrum and Avalanche.
XRP Ledger Ranks Low For RWA Users
The distributed value is not the only metric where the XRP Ledger falls behind competitors. Another metric is the user count, where the XRP Ledger is struggling even worse. In this case, the network ranks 10th place with fewer than 5,000 users. This is a stark contrast to Plume’s 259,000 users, Solana’s 184,000, and Ethereum’s 164,000, making them the top 3 chains by user base.
However, one metric where the XRP Ledger seems to shine when it comes to RWA is the represented value on the blockchain. While it is still not in first place, it ranks behind ZKsync Era with $2.2 billion for ZKsync Era and $1.5 billion for XRP Ledger. This puts it ahead of the likes of Ethereum, Solana, and Plume in this metric, showing there is still active participation on the blockchain.
Nevertheless, the RWA space looks to be rising rapidly as the website shows that the total Distributed Asset Value across blockchains has crossed into $27.68 billion. Meanwhile, there are over 710,000 holders, and $441.38 billion in Represented Asset Value.
