Doppler Finance's XRP Vault has crossed 90 million XRP in total value locked, according to the platform's transparency reports. At XRP's current price of approximately $1.42, the vault holds roughly $128 million in assets.
The vault's growth has accelerated significantly since February 2026. Doppler reported 51.09 million XRP in user balances on February 27, rising to 83.34 million by June 19, and exceeding 90 million by October 12. This represents a gain of roughly 76 percent in XRP terms over the eight-month period.
Doppler positions itself as yield infrastructure for XRP, offering users a way to earn returns on idle tokens. Unlike ether or solana, XRP has no native staking reward, making third-party yield products the primary avenue for income generation on the asset.
Backing and Reserves
Doppler's June 19 transparency report showed backing assets totaling $109.4 million against $105.5 million in user deposits, representing a 103.75 percent reserve ratio. The Q1 report showed a similar 103.82 percent ratio. These figures are point-in-time snapshots rather than live proof of reserves.
Market Context
The vault's growth occurs alongside significant activity in XRP-focused financial products. Evernorth, an XRP treasury company backed by Ripple, began trading on Nasdaq on October 12 under the ticker XRPN, holding approximately 473 million XRP. Evernorth has stated plans to pursue returns through institutional and decentralized finance strategies.
U.S. spot XRP exchange-traded funds received $11.31 million in inflows during the week of the 90 million XRP milestone, marking the 13th consecutive week of weekly inflows to XRP ETFs.
