XRP's $159 Billion Transaction Volume Can't Offset 81.6% Fee Drop
The XRP Ledger processed $159.9 billion in transactions during the first half of 2026, making it one of the most active payment networks.
This growth, however, does not translate to revenue for XRP holders. According to asset manager 21Shares, network fees dropped by a staggering 81.6% year over year, from $6.43 million to $1.18 million.
XRP's circulating supply grew at an annual rate of 5.5%, which is the lowest among its payment-focused crypto peers. This means that XRP holders face a net annual drag of 5.5% at current fee levels, requiring a price increase of at least 5.5% annually to break even.
21Shares estimates that XRPL revenue would need to increase by an astonishing 12,700 times to offset one year of newly issued supply at current values. This emphasizes the importance of increased adoption and demand for XRP's long-term value proposition.