The focus on new tokens over older ones is starting to shift. Ripple’s long-standing public chain XRP has been on a sharp rise, increasing over 360% in the past month. As of today, its market cap has surpassed USDT and SOL, placing it as the third-largest cryptocurrency. XRP’s market cap has also surpassed Pinduoduo, China Life Insurance, and Citigroup, moving it up to 138th in the global asset rankings.

RootData’s trend data shows that the popularity of tokens from XRP ecosystem-related projects is soaring. ChainCatcher provides a brief overview of these XRP ecosystem projects.

XRP Ledger (XRPL) Ecosystem Projects

XRP Ledger (XRPL), launched by Ripple in 2012, is a public blockchain that Ripple has actively developed in recent years.

This year, Ripple expanded XRP Ledger’s programmability and plans to introduce the XRPL EVM sidechain in 2025 to further enhance Ripple’s ecosystem.

Ripple’s stablecoin, RLUSD, is currently undergoing beta testing on the XRPL network. Additionally, Ripple has expanded its partnership with UK crypto exchange Archax, planning to tokenize hundreds of millions of dollars in real-world assets (RWA) on XRPL in the next year, aiming to position XRPL as one of the leading blockchains for RWA tokenization.

RootData’s statistics show that there are currently 10 projects in the XRPL ecosystem. Six of them, including Evernode, Sologenic, Kaiju, Heirloom, Trustline, and Thallo, are exclusive to the XRPL network.

Among these, Evernode, Sologenic, and Xahau Network have already launched their tokens. In the past month, Evernode and Sologenic tokens have seen impressive gains, increasing by 3x and 5x, respectively.

1. Evernode (EVR) – Customizable Layer2 Solution

Evernode, launched in 2021, is a decentralized, permissionless second-layer network designed to host highly flexible and scalable decentralized apps (dApps). These dApps function as custom “AppChains,” enabling developers to build and scale according to their preferred languages, features, and locations, without the need to create a new consensus mechanism.

Evernode’s token, EVR, was launched in February. As of now, EVR is priced at $0.2952, up 18% in the past 24 hours and 336% in the last month, with a market cap of $7.38 million and a fully diluted valuation (FDV) of $21 million.

1. Sologenic (SOLO) – Tokenized Investment Ecosystem

Sologenic is a tokenized ecosystem that allows users to invest in, trade, and tokenize assets like stocks, ETFs, and fiat currencies on the XRP Ledger.

As of now, Sologenic’s token, SOLO, is priced at $0.5858, up 8.5% in the past 24 hours and 509% in the past month, with a market cap of $232 million and an FDV of $232 million.

1. Xahau Network (XAH) – Programmable Smart Blockchain

Xahau Network is a smart blockchain that supports account-based programmability. Unique features of Xahau include IOU token custody and PayChannels, which enhance transaction flexibility and security. The network uses native smart contracts called “Hooks.”

As of now, Xahau’s token, XAH, is priced at $0.1159, having increased more than 80% in the past month, with an FDV of $68.89 million.

XRP Ledger (XRPL) Technical Partners

1. Coreum (COREUM) – Launching XRPL Cross-Chain Bridge

Coreum, launched by the Sologenic Development Foundation on December 20, 2021, is a Layer 1 blockchain built on Tendermint’s core BFT. In March, Coreum upgraded its XRPL bridge, enabling seamless transfers of XRP to Coreum, the Cosmos ecosystem, and several networks based on Ethereum’s virtual machine (EVM).

As of writing, Coreum’s token, COREUM, is priced at $0.3186, up 19% in the last 24 hours, and up 423% over the last month. It has a market cap of $123 million and a fully diluted valuation (FDV) of $174 million.

1. Evmos / Tharsis Labs (EVMOS) – XRPL Sidechain Tech Provider

In May, Ripple partnered with Evmos to develop an XRP Ledger EVM sidechain using Evmos’ evmOS technology stack. evmOS is a modular, customizable tech stack built on the Cosmos SDK, IBC, and CometBFT, bringing Ethereum-compatible features to Web3 enterprises.

As of writing, Evmos’ token EVMOS is priced at $0.03, up 5% in the last 24 hours and up 198% in the past month. Its market cap is $19.14 million, with an FDV of $32.64 million.

1. Axelar (AXL) – Exclusive Cross-Chain Protocol for XRPL Sidechains

In June, XRP Ledger announced the upcoming launch of its “XRPL EVM sidechain,” which will introduce new programmability features to XRPL, such as smart contracts. Axelar will serve as the exclusive cross-chain protocol for this sidechain, enabling users to convert XRP into wrapped XRP (eXRP) for use as the native gas token on the sidechain.

As of writing, Axelar’s token AXL is priced at $0.99, up 44% in the past month. Its market cap is $853 million, with an FDV of $1.17 billion.

1. Band Protocol (BAND) – Leading Oracle Provider for XRPL

Band Protocol is a cross-chain data oracle platform designed to build a high-quality web3 development product suite. At the end of 2023, Band announced that it would provide Oracle price-feeding services for the XRP Ledger mainnet and its EVM sidechain.

As of press time, the price of BAND tokens is temporarily reported at US$1.8, up 76% in the past month, with a market value of US$289 million and FDV of US$289 million.

Other Projects

1. Stellar (XLM) – Another Payment Network by Ripple’s Co-Founder

Stellar, founded by Jed McCaleb (a Ripple co-founder), was launched in 2013 after McCaleb left Ripple due to differences over the company’s future direction.

The price of Stellar’s XLM token is often closely correlated with XRP. As of writing, XLM is priced at $0.5482, up 9% in the last 24 hours and up over 490% in the past month. Its market cap is $16.05 billion, with an FDV of $27.43 billion.

1. The Root Network（ROOT）/ Futureverse——XRPL-Linked Metaverse Network

The Root Network is a decentralized blockchain optimized for metaverse applications, gaming, and experiences. Its developer, Futureverse, raised $54 million in July 2023, with Ripple as an investor.

Futureverse uses the XRPL NFT standard, XRP as the native gas token for its Root Network, and integrates with the XRPL DEX to provide network liquidity.

As of writing, The Root Network’s token ROOT is priced at $0.0433, up 160% in the past month, with a market cap of $62.63 million and an FDV of $51.95 million.

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