Doppler Finance announced on October 11, 2026, that its XRP Vault has crossed 90 million XRP in total value locked, equivalent to more than $125 million at current prices. Combined with its RLUSD vault, Doppler has attracted over $150 million in deposits from more than 14,000 users.
The growth underscores increasing institutional appetite for yield strategies on XRP-native assets. RLUSD, the stablecoin native to the XRP Ledger, recently reached an all-time high market capitalization near $2.5 billion, signaling broader adoption of XRPL-based financial products.
Filling a Structural Gap
Doppler Finance, formerly Lotus Protocol, launched in February 2025 to address XRP's lack of a native staking mechanism. The platform operates through custody-backed vaults that employ market-neutral strategies, including spot-perp basis trading and arbitrage. The XRP Vault currently offers an annualized return of approximately 3% APR.
Large XRP holders have begun deploying assets for yield. VivoPower committed $30 million to the XRP Vault in September 2025 as the first tranche of a $200 million XRP treasury yield program. Evernorth, a Ripple-backed entity, completed a SPAC merger that brought 473 million XRP to Nasdaq and has previously collaborated with Doppler on XRPL liquidity initiatives.
XRPL Infrastructure Upgrades Support Growth
Recent developments on the XRP Ledger are creating a stronger technical foundation for yield products. XRP Ledger version 3.4.0 launched with a new lending protocol amendment, and proposals XLS-65 and XLS-66 have entered validator voting to enable single-asset vaults and native lending on mainnet.
Doppler has flagged a native XRPL lending product for Q4 2026, contingent on XLS-66 activation. The Batch Amendment, now live on XRPL, enables multi-transaction settlement within a single ledger close, reducing friction for high-frequency trading strategies that yield vaults depend on. Clearpool's expansion into XRPL lending adds institutional credit market depth to the ecosystem.
