XRP's H1 2026 Earnings: Revenue Drops Amid Growing Stablecoin Base

XRP's first half of 2026 earnings reveal an unusual situation for the cryptocurrency. The XRP Ledger (XRPL) processed $159.9 billion in transactions, but the fees generated from those activities plummeted by 81.6%, falling from $6.43 million to just $1.18 million year-on-year.

Most of this decline came from trading fees paid to liquidity providers on the XRPL network and NFT royalties. Ordinary transaction fees, however, only fell by a more modest 66.3% from $269,600 to $90,800.

The fee structure of the XRPL means that most revenue is burned rather than distributed to holders. In fact, of the total H1 2026 revenue, only 10.6% actually reached XRP holders through this mechanism.