XRP Supply Inflation Hits 5.5%, Ledger Revenue Collapses 81.6%

XRP's circulating supply expanded by 5.5% over the past year due to scheduled escrow releases, while revenue generated by the XRP Ledger plummeted 81.6% in the first half of 2026.

The report from digital asset manager 21Shares paints a stark picture of XRP's economic fundamentals. The token's supply has been consistently outpacing its revenue growth, resulting in a structural supply overhang that current fee levels cannot offset.

The analysis found that roughly 272 million XRP enter circulation each month through escrow releases, but only a negligible fraction is removed by transaction fee burns. As a result, XRP holders face a net annual drag of 5.5% at current fee levels.