Ripple Targets $1 Billion Revenue Run Rate by 2026 Excluding XRP Holdings

Ripple CEO Brad Garlinghouse has set a target of $1 billion revenue run rate by the end of 2026, excluding XRP holdings on the company's balance sheet. This figure is based on four operating business lines: cross-border payments infrastructure, RLUSD stablecoin, treasury software, and AI-enabled payments on the XRP Ledger.

The revenue run rate annualizes a current period's operating revenue to project a full-year figure, differing from GAAP revenue in that it represents a forward trajectory rather than a historically booked figure. The four business lines each carry distinct institutional logic, with cross-border payments targeting banks and payment firms seeking faster correspondent settlement.

The RLUSD stablecoin is positioned for enterprise settlement, collateral use, and AI agent payments on the XRP Ledger. Treasury software targets corporates and banks building crypto treasury infrastructure, a segment projected to grow from under $200 billion to over $1 trillion in total market size by end-2026.

AI-enabled payments via the XRPL AI Starter Kit is an early-stage business line using the x402 protocol to let software agents transact in XRP and RLUSD with minimal human involvement. While the contribution of this line to a 2026 run rate remains speculative, Garlinghouse's statement represents a stated target rather than a disclosed current run rate.