The XRP community is experiencing a surge of excitement following the release of a new report by Messari Research. This report details significant developments within the XRP Ledger (XRPL) ecosystem. According to Messari, XRP concluded the third quarter with an all-time high price of $2.85, representing a substantial 27.2% increase compared to the previous quarter. Its circulating market capitalization also climbed to $170.3 billion, demonstrating growth that outpaced the combined performance of Bitcoin, Ethereum, and Solana.
Messari's findings also highlight a remarkable 215% surge in the real-world asset (RWA) market capitalization on the XRP Ledger, reaching a total of $364.2 million. This expansion is largely attributed to the increasing tokenization of assets such as U.S. Treasury bills, digital commercial paper, and real estate holdings. Furthermore, Ripple's stablecoin, RLUSD, showed strong performance with a 34.7% increase in market capitalization, closing the quarter at $88.8 million and solidifying its position as the largest stablecoin on the network.
State of XRP Ledger Q3
Key Update: XRP Ledger implements institutional-grade features, paving the way for widespread adoption of tokenized real-world assets and compliant DeFi.
QoQ Metrics 📊
• XRP price ⬆️ 27.2%
• RWA market cap on XRPL ⬆️ 215.3%
• Average daily… pic.twitter.com/BemmsRxvud— Messari (@MessariCrypto) October 28, 2025
Institutional Adoption and Compliance Advancements
Messari's report emphasizes that the XRP Ledger is emerging as a central platform for institutional adoption, driven by continuous technical upgrades and a strong focus on regulatory compliance. The implementation of multipurpose tokens allows issuers to integrate crucial information, such as maturity dates and transfer restrictions, directly into the tokens themselves. This enhances the utility and transparency of tokenized assets.
Moreover, the development and deployment of decentralized identity and credential systems are crucial for supporting Know Your Customer (KYC) and Anti-Money Laundering (AML) verification processes. These systems empower institutions to operate with greater transparency and security, meeting stringent regulatory requirements.
A significant advancement is the ongoing development of confidential multipurpose tokens, which leverage zero-knowledge proof technology. This innovative technology will enable institutions to conduct private and compliant transactions, further increasing the XRP Ledger's attractiveness to regulated financial markets. Ripple's strategic expansion of partnerships with international banks and payment providers is also a key factor in reinforcing its global financial presence.
Expanding Network Activity and Broader Impact
Network activity across the XRP Ledger demonstrated consistent growth throughout the quarter. The average number of daily transactions increased to 1.8 million, and there was a notable 46% rise in new wallet addresses, indicating a broadening adoption of the ledger's ecosystem.
Developers are actively engaged in creating upcoming extensions and sidechains designed to connect XRPL with other prominent blockchains like Ethereum and Cosmos. These integrations are expected to enhance cross-chain functionality and improve liquidity across different networks.
According to Messari, these recent advancements signify a pivotal transformation for XRP, moving beyond its initial focus on payments to become a comprehensive, compliance-ready blockchain network. With the ongoing increase in tokenization activities, sustained institutional engagement, and enhanced regulatory features, the XRP Ledger is well-positioned to assume an increasingly significant role in the evolving digital asset markets.