A notable shift in capital flows within the tokenized real-world asset (RWA) sector has caught the attention of analysts, with some suggesting that funds may be moving from Ethereum to the XRP Ledger. Ledger Man, a crypto analyst, posted on social media that XRPL attracted around $1.5 billion in new RWA inflows over the past month, while Ethereum saw about $1.2 billion in outflows during the same period. These figures, however, have not been independently verified by blockchain data providers or official reports.
The potential rotation comes as tokenization of real-world assets emerges as one of the fastest-growing areas in digital assets. Ledger Man emphasized that capital might be quietly exiting Ethereum for XRPL, driven by increasing interest in tokenized assets. This speculation aligns with earlier reporting by Crypto.news, which highlighted that XRPL’s RWA market cap surged by over 124% in the first quarter, reaching approximately $2.25 billion. Additionally, stablecoin activity, particularly RLUSD, has expanded across the ecosystem, further fueling attention on XRPL.
Ripple has been actively promoting tokenization infrastructure, focusing on use cases like tokenized securities, funds, and institutional assets. A recent integration of RLUSD with Wormhole has enabled access across 40 chains, providing more liquidity options for developers and institutions. Despite these developments, Ethereum remains the dominant platform for tokenized assets and decentralized finance, thanks to its established infrastructure, large developer community, and deep liquidity. Many financial institutions still prefer Ethereum for launching tokenization projects.
The tokenized RWA sector has become a key battleground in the crypto industry, with banks, asset managers, and fintech firms exploring blockchain-based versions of traditional financial products. David Schwartz, Ripple’s CTO, noted that tokenized securities, money market funds, loans, and repos could play significant roles in XRPL’s ecosystem. As more institutions enter the space, competition between blockchain networks is expected to intensify. However, claims of large capital shifts between Ethereum and XRPL remain difficult to confirm, underscoring the need for verified data.