XRP Ledger Surpasses Ethereum in Tokenized Commodity Market Growth
XRP Ledger (XRPL) has surpassed Ethereum in the growth of tokenized commodity market capitalization, marking a significant shift in the real-world asset (RWA) tokenization market. Data from Token Terminal and RWA Foundation for October 2026 reveals that XRPL attracted $2.2 billion in net capital inflows for tokenized commodities since the start of the year, while Ethereum brought in $1.6 billion, placing it in second position. Other major networks like Avalanche and BNB Chain lagged far behind with $334.5 million and $57.5 million, respectively.
The shift is attributed to XRPL's architecture, which simplifies asset tokenization through built-in mechanisms that reduce transaction costs to fractions of a cent and ensure quick settlements within 3-5 seconds. This contrasts with Ethereum, where issuing assets involves higher gas costs and complex smart contracts. The energy sector, particularly the launch of tokenized electricity-generation contracts (JMWH) by Latin American company Justoken, was a key driver behind XRPL's rise.
According to on-chain data from RWA.xyz as of October 5, 2026, XRPL's dominance triggered a surge in network activity. Monthly RWA transfer volume increased over 224-fold to $7.03 billion, and the total value of represented assets rose 56% to $4.52 billion in 30 days. The stablecoin market on XRPL also saw significant growth, reaching $1.25 billion, largely due to the integration of the native token RLUSD, with monthly stablecoin turnover totaling $5.01 billion.
Industrial businesses are increasingly adopting XRPL infrastructure. Major players such as Franklin Templeton, Ondo Finance, and Middle Eastern developer DAMAC have integrated into the ecosystem, tokenizing assets ranging from investment funds to premium real estate projects in Dubai. While Ethereum remains dominant in the total value of RWA assets locked, primarily due to U.S. government bonds, XRPL is leading in the tokenization of physical goods and commodities.