XRP Ledger surpasses Solana in on-chain real-world asset value as concentrated issuance surges

Over the past month, the XRP Ledger has overtaken Solana in on-chain real-world asset value excluding stablecoins, with roughly $1.756 billion versus Solana's $1.682 billion, according to RWA.xyz. The shift has been driven by a rapid increase in represented assets on XRPL, which concentrate value in a small number of institutional-style issuances rather than broad retail distribution. In contrast, Solana continues to lead in holder count and transfer volume, highlighting a trade-off between value concentration and network participation.