XRP Surges 51% Weekly While XRPL Revenue Collapses 81.6%

XRP climbed 51.1% in seven days to $1.48 on Monday, a rally that coincided with an 81.6% year-over-year collapse in XRPL network revenue and a 5.5% annual increase in circulating supply, according to 21Shares research.

The supply mechanics explain the revenue side. XRPL destroys a tiny fraction of each transaction fee, currently 0.00001 XRP per transaction, but the burn rate has not kept pace with scheduled releases from Ripple's escrow wallets. CoinGecko data shows circulating supply reached 62.74 billion XRP against a 99.99 billion total cap, leaving roughly 37 billion XRP still escrowed or held by the company. Revenue collapse amid supply growth creates a structural mismatch. XRPL's fee-burn mechanism was designed to create deflationary pressure, but the absolute volume of fees has dwindled as transaction activity shifted toward stablecoin transfers and institutional tokenization, use cases that generate fewer on-chain fees per dollar of value moved. Stablecoin balances on XRPL expanded through 2024 and into 2026 as issuers leveraged the network's native decentralized exchange and low settlement costs. Institutional tokenization pilots, including real-estate and treasury experiments, added ledger entries without proportionally increasing fee revenue. The network processes value differently than it did in 2021, and the fee model has not adapted. Price action tells a different story. per CoinGecko, the 51.1% weekly gain lifted XRP to a $93.1 billion market cap with $5.67 billion in 24-hour volume, levels that imply heavy external participation. Futures open interest on major exchanges rose in tandem, suggesting leveraged speculative flows rather than organic demand for XRPL blockspace. What to watch next Escrow unlock schedules remain the dominant supply catalyst. Figures from the desk show Ripple releases up to 1 billion XRP monthly from time-locked contracts, with unused portions returned to new escrows. The next unlock occurs September 1. CoinGecko data shows if price holds above $1.40 through that event, the market may be pricing in demand that exceeds the dilution rate, a bet on future utility, not current revenue.