Ripple Expects $900M Product Revenue Run Rate by End of 2026
Ripple expects a $900 million annualized product revenue run rate by end of 2026, with multi-product customers tripling, payments nearing $150 billion in lifetime volume and RLUSD at $2.5 billion. XRP remains down nearly 30% this year.
$900 million. That is the annualized product revenue run rate Ripple expects to exit 2026 with, the firm announced Wednesday. Growth came from payments, custody, stablecoin, prime brokerage and treasury.
The supporting numbers: customers and partners using multiple Ripple products have tripled this year. The payments network should approach $150 billion in lifetime volume by year-end. RLUSD's market cap stands at $2.5 billion.
"As traditional and digital finance converge, market infrastructure is migrating to modern rails"
Brad Garlinghouse, Ripple
Garlinghouse added that "Settlement is moving to real-time, 24/7, and tokenized assets can be traded, financed and used as collateral." His pitch on the competition: "Others focus on individual pieces of the puzzle," while "Ripple is bringing all of that together, with our partners, to enable the Internet of Value."
Recent deal flow
Busy week. Ripple received final OCC approval for Ripple National Trust Bank on Monday, and it expanded its partnership with BNY on XRP and RLUSD custody and tokenized trade finance.
Other recent developments:
- Aviva Investors launched a tokenized share class of its sterling liquidity fund on the XRP Ledger, investing £50 million ($66.7 million).
- Brevan Howard expanded its relationship with Ripple to include prime brokerage, clearing and financing.
- Ripple Prime added swaps referencing more than 100 markets, with 24/7 trading and settlement. Clients can use RLUSD as collateral.
Token price lags the business
XRP has not followed the business numbers. The token is down nearly 30% this year, market cap $83 billion, despite a spike higher in early August.
Spot XRP ETF net assets sit around $1.5 billion as of Oct. 26. Volumes have risen in recent months but remain well below BTC, ETH and SOL ETFs.
Prediction markets are not pricing a rally either: odds of XRP reaching $4.00 in October stand at 0.1%.
What it means
A run rate annualizes current or projected revenue. It is not booked annual revenue. The pitch is a bundled stack of payments, custody, stablecoin and prime services, and the tripling of multi-product customers is the metric that best supports it. Whether that revenue reaches XRP's price is a separate question. For now, the market says no.
