XRP Has a $71 Billion Market Cap, but XRP Ledger Made Less Than $120,000 This Year XRP Has a $71 Billion

Ripple’s XRP commands a $71 billion market cap, but the XRP Ledger generated just $119,182 in fees this year. The token’s fully diluted value sits at $114 billion, while fees last year were $2.35 million and $1.41 million in 2024. The XRP Ledger’s DeFi TVL has fallen to about $40 million from a peak of $120 million, while Ethereum’s TVL sits well above at over $37 billion. The network remains active in stablecoins, with RLUSD holding over $760 million and contributing to a combined RLUSD market cap of about $1.6 billion. Real-world asset tokenization on the platform reached over $3.6 billion, and 30-day transfer volume jumped 132% to $106.1 million.