Ripple expects 2026 to be its strongest business year on record, even as XRP heads toward its steepest annual decline since 2022, the company said on Oct. 28.
Ripple said it is on track to exit the year with a record $900 million annualized product revenue run rate, citing expanding institutional partnerships and demand for its financial infrastructure. President Monica Long described the performance as Ripple's "best year ever," pointing to the approaching revenue milestone and adoption of the company's infrastructure by major financial institutions.
XRP, meanwhile, has fallen nearly 30% this year and more than 50% over the past 12 months, a gap that underscores the divergence between Ripple's commercial growth and the market performance of its closely associated token.
Acquisitions and customer growth drive record year
Ripple attributed the year to organic growth and the integration of businesses acquired during its expansion into financial services. Last year the company spent more than $2.4 billion on acquisitions:
- Prime brokerage firm Hidden Road, now Ripple Prime, for $1.25 billion
- Treasury management provider GTreasury for $1 billion
- Stablecoin payments platform Rail for $200 million
The deals extended Ripple's operations beyond cross-border payments into institutional trading, financing, clearing and corporate cash management. CEO Brad Garlinghouse said the strategy is to bring financial services traditionally offered by separate providers onto integrated infrastructure, using blockchain technology and digital assets such as XRP.
"Ripple is bringing all of that together, with our partners, to enable the Internet of Value," Garlinghouse said.
Ripple said its products, including Ripple Prime and Ripple Treasury, enabled more than $16 trillion in transactions in 2025 across its expanded financial services portfolio. The number of customers and partners using multiple Ripple products has tripled this year, with more than 1,700 institutions and businesses now using its infrastructure. Customers and partners include Standard Chartered, DBS, HSBC, Robinhood and BNY.
The company's payments network is approaching $150 billion in cumulative transaction volume, while its RLUSD stablecoin has grown more than 88% this year to a market capitalization of $2.6 billion. Ripple has also secured more than 85 licenses across its operations.
On Oct. 26, the Office of the Comptroller of the Currency granted final approval for Ripple National Trust Bank, authorizing the federally supervised institution to manage RLUSD reserves and provide fiduciary digital asset custody services.
XRP heads for worst year since 2022
Despite Ripple's record year, XRP is heading toward its steepest annual decline since 2022. CryptoRank data shows the token has lost 28.8% of its value in 2026, extending last year's 11.6% decline.
The losses follow strong prior performance, with XRP gaining 82.5% in 2023 and 235.7% in 2024. That momentum has faded this year, with the cryptocurrency falling from a high of $2.40 to below $1 in August before recovering to around $1.31 as of press time.
The weakness has coincided with a difficult year for the broader cryptocurrency market, led by Bitcoin's retreat from its October 2025 record high of approximately $126,000. Bitcoin plunged below $60,000 at one point this year, wiping out more than half its value from that peak as macroeconomic uncertainty, elevated interest rates and weakening investor demand weighed on digital assets. It has since recovered above $80,000 but remains roughly 36% below its record and has lost approximately 8% this year.
Other major cryptocurrencies have suffered similar setbacks, with Ethereum declining about 20% and Solana shedding 17% year to date.
If its losses persist through December, XRP would record its worst annual performance since a 59.2% plunge in 2022, and its first consecutive losing years since 2018 and 2019, when it declined 84.5% and 47.1%, respectively.
