RMB Quotation Range and Calculation Basis
Based on the RMB pricing basis in the title, XRP's RMB quotations provided by multiple market platforms on November 2–3, 2026, roughly ranged between RMB 8.30 and RMB 9.40. Quotations vary across platforms due to differences in trading pairs, exchange rate conversions, and snapshot timings; international market data is typically dominated by USD or USDT quotes, with RMB prices fluctuating alongside the USD/CNY exchange rate.
- The circulating supply stands at approximately 63.351 billion tokens, accounting for about 63% of the 100 billion maximum supply.
- Based on the aforementioned quotes and circulating supply, the circulating market cap is estimated at approximately RMB 525.5 billion to RMB 590.3 billion.
- The fully diluted valuation (FDV) is approximately RMB 834.7 billion, corresponding to the total supply benchmark of 100 billion tokens.
- The 24-hour trading volume is approximately RMB 10.3 billion to RMB 13.8 billion.
Regarding historical market performance, public records show that XRP reached a historical high in the range of approximately RMB 24 to RMB 26 in January 2018; this figure represents a historical peak and does not reflect current price levels.
What is XRP: Cross-Border Payments and the XRP Ledger Mechanism
XRP is the native crypto asset running on the XRP Ledger (XRPL). XRPL was created in 2012 by David Schwartz, Jed McCaleb, and Arthur Britto, with Chris Larsen joining later that year to co-found Ripple. Ripple has long associated XRP with cross-border payments, settlement, and financial institution services, emphasizing fast transfer speeds and low transaction fees.
Unlike most public blockchains that require continuous block rewards, XRP was fully pre-mined at inception with a total supply of 100 billion tokens, and no new supply is issued via mining or staking rewards. A substantial proportion of XRP is managed by Ripple through escrow, released into circulation on a monthly basis, with a portion of the released amounts re-escrowed. Transaction fees on XRPL are burned, meaning on-chain usage may marginally reduce the XRP supply over time.
Recent Developments: Regulatory Approval, Tokenization, and Exchange Inflows
- On October 27, 2026, public information indicated that Ripple secured regulatory approval in the United States to operate under a national trust bank model. This development is tied to the RLUSD stablecoin and custody services, signaling an expansion of its compliance pathway for institutional business.
- On October 26, 2026, Aviva Investors launched a tokenized share class of a GBP fund sized at approximately $29 billion on the XRP Ledger, providing an institutional use case for on-chain fund issuance and asset tokenization.
- On October 20, 2026, on-chain data showed that over 6 billion XRP were transferred to exchanges over the preceding 30 days, reaching a higher level not seen since March. Large inflows are typically interpreted by the market as portfolio reallocation or potential trading preparation, though exchange inflows themselves do not necessarily equate to selling.
How to Understand Market Volatility and Data
From a short-term perspective, XRP's 24-hour volatility on November 2–3 manifested as slight gains, flatness, or minor declines across various platforms; on a 7-day basis, public market data showed a decline of approximately 2.6% to 3.5%. Such volatility ranges are relatively common among crypto assets and should not be used in isolation as a basis for trend judgment.
When viewing XRP market data, it is even more important to distinguish among three metrics: spot trading pair prices, RMB-converted prices, and market capitalization or fully diluted valuation. XRP can be traded on mainstream platforms that support the coin; specific available regions, trading pairs, and real-time prices should be subject to the platform's official pages.
