XRP
XRP Ledger · Payments ledger (federated consensus, fixed supply)
Score qualifies for T2; held by Value engine 2 (needs 3), Security 1 (needs 2), Distribution 0 (needs 1).
Key facts
- Circulating 63.13B, 63%
- Locked or unvested 36.86B, 37%
- Max 100.00B
Market data: CoinGecko, Oct 24, 2026. Scores reviewed Oct 23, 2026.
Assessment
XRP's engine is the money route, and a narrow one: $54M of XRP is posted at third-party lenders, while the fee burn, real protocol plumbing, destroyed only ~191K XRP (~$0.3M) in the year to Oct 19, 2026. Supply is fixed at 100B with no mint function, and any change needs an amendment backed by 80% of validators for two weeks. All 100B were created in 2012 for Ripple and its founders with no public sale, and Ripple still directs ~36.1B through escrow and wallets. The binding constraint is control: since the XRPL Foundation list expired Jan 18, 2026, Ripple alone publishes the 35-validator default UNL.
How value reaches holders
Fee burn only: every transaction fee is destroyed, but the base is tiny: ~520 XRP/day, ~191K XRP (~$0.3M) in the year to Oct 19, 2026 and ~14.4M XRP since 2012. No issuance: all 100B XRP were created at genesis. Ripple controls ~36.1B XRP (31.40B escrowed + 4.74B in wallets, Oct 17, 2026); 1B unlocks each month and Ripple has re-locked 700M every month since Oct 2025, so ~300M a month reaches its treasury
Score anatomy
Demand
21 / 45: the stronger of two routes, plus adoptionWhy would anyone hold it: does value reach the token, and is the network or product used today?
Every fee is burned by protocol rule, which would be 90%+ plumbing, but revenue scores 0, so the de-minimis rule caps routing at 1
Approved or designed but inert, indirect sinks only, or flows into a treasury or endowmentHow this is scored
~191K XRP (~$0.3M) burned in the year to Oct 19, 2026, from the ledger's total_coins; 1.32M XRP the year before
Under $0.5M/yr, or emissions-subsidized onlyHow this is scored
$54M of XRP posted at third-party lenders (Kinetic on Flare $26M, Morpho $18M, Venus $9M), DefiLlama Oct 23, 2026; ledger gas counts 1.
Measurable niche monetary use: payment rails, savings products, or collateral at third-party venues below the next levelmedium confidenceHow this is scored
XRPL stablecoins rose to $1.02B from $0.12B (RLUSD $2.4B total) and XRP ETFs hold $1.5B, but ledger DeFi is $0.04B and fees -90% YoY
Established: a meaningful, steady share of its categorymedium confidenceHow this is scored
Two routes, the stronger counts
Soundness
20 / 40Can a long-term holder trust the rules: supply, float, distribution and control?
No XRP issued since 2012 and no mint function: 100B fixed, ~14.4M burned; any change needs an amendment backed by 80% of validators for two weeks.
Hard cap or net deflationary by protocol rule, under 1%/yr gross growth, and nobody can mint past the cap or change the schedule short of a hard fork node operators adopthigh confidenceHow this is scored
Float 63% (63.1B of 99.99B); Ripple holds 31.40B in escrow plus 4.74B in wallets, and ~300M a month leaves escrow after re-locks (~0.5% of float).
0.5-1.5% per month, or large foundation or treasury holdings without a schedulehigh confidenceHow this is scored
All 100B XRP were created in 2012 for Ripple (80B) and its founders (20B) with no public sale; Ripple still directs ~36.1B (31.4B escrow, 4.74B wallets, Oct 2026)
Insiders received over 50%, or one organization directs over 30% todayhigh confidenceHow this is scored
The 35-validator default UNL is published by Ripple alone since the XRPL Foundation list expired Jan 18, 2026 (a foundation-selected set); the ledger halted 64 minutes on Feb 4, 2025; Ripple cannot halt it alone
A halt, rollback or exploited consensus bug in the last 24 months, attack cost under $10M, or a foundation-selected validator set or small multisig can halt or upgrade with no meaningful exit windowmedium confidenceHow this is scored
Durability
14 / 15Is it big, proven and reachable by institutions?
$83.3B market cap (band 5), $1.9B/day median volume (band 5), no flags.
Systemic: over $10B market cap and $500M/day+How this is scored
14 years; the Feb 2025 halt self-healed with at most one operator intervening, so it does not count as coordinated
10+ years with no rollback or coordinated halt in the last 10 yearshigh confidenceHow this is scored
Six US spot ETFs hold ~1.17B XRP (~$1.5B, Oct 16, 2026)
US spot ETFs over $500M from several issuershigh confidenceHow this is scored
What would move it up
To reach T2 Strong, 3 gates are still open:
- Value engine 2needs 3(open)
- Security 1needs 2(open)
- Distribution 0needs 1(open)
- Score 55gate 55(met)
- Adoption 3gate 3(met)
- Supply 5gate 2(met)
- Float and unlocks 3gate 1(met)
- Scale 5gate 3(met)
Tier outlook
Stable
- Security rises to 2 only if the default UNL gains publishers independent of Ripple
- Distribution rises to 1 once Ripple directs under 30% of supply (~36.1B now, ~300M a month leaving escrow)
- Usage rises to 3 if XRP posted at third-party venues passes $1B ($54M now)
- Routing: a trailing-year burn above $0.5M lifts revenue to 1 and lets the burn count as 90%+ plumbing
- Overhang: Ripple's monthly re-lock of 700M of 1B; without it ~1.6% of float unlocks a month
Compare with
How the ranking works and how XRP compares: see the full ranking. This entry as JSON:
GET https://tokens.10102.io/api/v1/tokenomics?symbol=XRP