XRP Ledger Faces Increased Competition in Tokenization Market

The XRP Ledger has experienced a decline in its ranking within the real-world asset tokenization protocols, slipping out of the top 10 chains by on-chain RWA value. This shift highlights the increasing competition in the market as multiple blockchains vie to secure institutional tokenization flows.

According to recent data from DeFiLlama, the XRP Ledger now ranks 11th among blockchain networks by tokenized real-world asset value, holding around $61.86 million in RWA market capitalization. This change pushed the network out of the top ten list, with the Plume Network overtaking it with $74.02 million in tokenized assets.

The broader tokenization market is expanding across major layer one networks, with Ethereum leading the sector with more than $13.3 billion in on-chain RWA value. Other chains, including BNB Smart Chain, Solana, Arbitrum, and Aptos, also hold significant positions in the market.