Ripple has outlined plans to boost settlement activity on the XRP Ledger, aiming to attract a portion of roughly $16 trillion in annual flows processed through its treasury and prime brokerage platforms. This strategic direction was highlighted by CEO Brad Garlinghouse during the company’s Swell conference in New York, according to statements from industry commentator Zach Rector.
Ripple’s $16 trillion opportunity
Garlinghouse positioned the massive off-chain treasury and prime brokerage activity as a potential pool for future on-chain settlement. Of the total $16 trillion, approximately $13 trillion came through Ripple Treasury last year, while Ripple Prime handled another $3 trillion to $4 trillion. Currently, almost none of these flows have moved onto the XRP Ledger.
Rector emphasized the point that Ripple’s goal is a strategic vision for on-chain migration rather than an immediate rollout or forecast. Moving even 1% of this $16 trillion onto the ledger would amount to $160 billion in annual on-chain settlement, according to the illustrative figures shared.
Ripple, a financial technology company focused on digital payment protocols and cryptocurrency solutions, continues to expand its products in both traditional finance and blockchain sectors.
Mini dictionary: Ripple Treasury and Ripple Prime are financial platforms offered by Ripple for handling institutional payments and liquidity, operating mainly off-chain. The XRP Ledger is a decentralized blockchain optimized for fast and efficient settlement of digital assets.
Garlinghouse noted that despite Ripple Treasury and Ripple Prime processing $16 trillion in annual flows, “almost none of that activity had touched the ledger,” presenting migration as a new growth opportunity for the network.
| Platform | Annual Flow ($ Trillion) | On-Chain Activity |
|---|---|---|
| Ripple Treasury | 13 | Minimal |
| Ripple Prime | 3-4 | Minimal |
| Total | 16 | Minimal |
Revenue and strategic expansion
Rector reported that Ripple’s projected revenue run rate has increased sharply, with estimates suggesting $900 million this year, up from $300 million previously. These results reflect growth across multiple business lines, including payments, custody, and stablecoin services.
Ripple’s RLUSD stablecoin has begun trading on Robinhood, and a new cooperation with Coinbase was recently announced, signaling further steps to improve liquidity for clients. The conference presentation also pointed to developers enhancing the XRP Ledger with upgraded features designed to attract new applications, although no quantitative adoption figures were provided for these initiatives.
During the event, Garlinghouse sought to address community concerns regarding the future relevance of XRP, clarifying, “We will never give up on XRP.”
Questions remain over XRP Ledger migration
Despite the ambitious vision, clear details about the transition from off-chain to on-chain settlement have not yet emerged. A critical, unresolved issue remains: how much of the proposed settlement volume would necessitate actual XRP purchases, rather than occurring in RLUSD or other assets on the ledger.
Industry analysts note that settlement activity does not directly translate into demand for the XRP token. The company has not announced a definitive migration timetable or a detailed plan for how these treasury and prime flows might shift onto blockchain rails.
