By the close of 2026, Ripple anticipates hitting an annualized product revenue run rate of about $900 million, fueled by expansion across payments, custody, prime brokerage and the company’s RLUSD stablecoin. The projection, presented at its Swell conference on October 28, 2026, contrasts with XRP’s performance: the token has fallen nearly 29% year-to-date.
Key takeaways
- Ripple’s revenue target measures an expected annualized pace, not booked revenue.
- RLUSD’s market capitalization reached $2.6 billion, gaining more than 88% year-to-date.
- Ripple National Trust Bank received final regulatory approval around October 27, 2026.
Ripple targets a $900 million revenue run rate
Ripple’s projection describes the revenue pace it expects to achieve by the end of 2026, rather than revenue already collected during the year. An annualized run rate extends a shorter period’s revenue pace across a full year.
The company identified payments, custody, RLUSD and prime brokerage as businesses contributing to growth. Those products do not require that holders receive a share of the proceeds.
That distinction separates two measures running in opposite directions: Ripple’s reported business expansion and the market performance of its associated token.
Ripple’s RLUSD stablecoin grows alongside institutional usage
Ripple’s RLUSD stablecoin has reached a $2.6 billion market capitalization, an increase of more than 88% year-to-date. The dollar-backed token’s growth accompanies wider adoption of the company’s institutional products.
Ripple says it serves more than 1,700 institutions. The number of customers using multiple Ripple products tripled in 2026, adding another measure of adoption beyond the size of its customer base.
The company also forecasts that its payments network will reach $150 billion in lifetime volume by the end of 2026. Ripple describes real-time settlement as central to its offering for traditional and digital finance.
A separate, broader measure covers activity across its products: Ripple says they enabled more than $16 trillion in transactions in 2025. That figure concerns overall product activity, rather than the payments network’s lifetime-volume forecast.
Among the expanded partnerships is a deeper collaboration with BNY centered on tokenized trade finance via the XRP Ledger. Ripple also identified Robinhood and DriveWealth as new partners.
Ripple National Trust Bank receives final approval
The US Office of the Comptroller of the Currency granted final approval for Ripple National Trust Bank, with the decision announced around October 27, 2026. The regulatory milestone preceded the revenue projection at Swell.
The OCC regulates national banks in the United States. A national trust charter places a crypto firm within the traditional banking framework, which is relevant to Ripple’s institutional custody and stablecoin businesses.
XRP falls despite Ripple’s business expansion
XRP has declined nearly 29% year-to-date even as Ripple reports rising customer adoption and product activity. Business growth and token-price performance have not moved together during 2026.
The company’s product revenue and XRP holders’ returns are structurally distinct. Growth in Ripple’s RLUSD stablecoin supports the company’s business, but does not necessarily generate demand for XRP itself.
Ripple earns revenue through payments, custody, prime brokerage and RLUSD; XRP holders are not required to share in those product proceeds.
Article produced with the assistance of artificial intelligence and reviewed by the editorial team.