XRP Yield Ranking: Where XRP Actually Earns

Through 2026, earning yield on XRP has quietly grown into one of the more active corners of DeFi. XRP is not a proof-of-stake asset, so there is no native staking rate to claim.

The XRP Ledger’s native AMM already pays trading fees on-ledger, and on-ledger lending is starting to arrive. The deeper and more varied rates live on smart-contract chains.

There, XRP is held as a wrapped token such as FXRP or cbXRP, or a staked form like stXRP, and supplied to a lending market, a vault, a fixed-rate Principal Token, or a liquidity pool. This page follows a curated set of these products and ranks them by rate.

As of July 21, 2026 this report tracks 14 XRP products across 2 networks, Base and Flare. Single-exposure XRP yield sources span 0.14% to 3.63%, with a median of 1.96%. Two-asset liquidity pools that pair XRP with an uncorrelated asset reach far higher, up to 91.20%. Those figures are almost entirely reward emissions on very thin liquidity, roughly $486k in the top pool, and move sharply week to week, which makes them opportunistic rather than a comparable yield.

7 of the 14 lean on reward-token incentives for the bulk of their rate, so those tend to ease off once a rewards program winds down.

In short, XRP yield comes from four sources: lending wrapped XRP to money markets, vaults and liquid staking, providing liquidity in pools, and fixed-rate Principal Tokens. Every rate on this page traces back to one of them. Knowing which source is behind a number makes it much easier to tell a steady, organic rate from one that is mostly short-term rewards.

Lending

Wrapped XRP supplied to a money market such as Kinetic on Flare or Moonwell on Base earns the interest borrowers pay on their loans.

It is single-sided, so there is no second asset to track, and on Flare the base rate is often topped up with rFLR reward tokens. This is the closest thing XRP has to a plain savings rate.

Vaults and liquid staking

Vaults and liquid-staking tokens do the work automatically. A curated vault such as Spectra, Upshift, Mystic or Superform, or a staking token like Firelight’s stXRP, takes the wrapped XRP and runs a strategy with it.

The results compound into a single token managed by a curator, and the rate blends whatever the strategy earns with any reward incentives on top.

Liquidity provision

Pairing an XRP token with another asset in a pool on SparkDEX or Aerodrome earns a share of the swap fees, usually with extra reward tokens layered on.

The headline rates are the highest on the page, with one trade-off: if the two tokens drift apart in price the position can suffer impermanent loss, so these pools reward active management.

Fixed-rate Principal Tokens

Spectra adds one more mechanism that is unique on this list: the Principal Token, or PT. A PT for staked XRP trades at a discount today and redeems one-for-one for the underlying at a set maturity date.

The gap between that discounted price and the full redemption value is a fixed rate locked in up front, so unlike everything else here the number does not drift day to day.

It is single-sided with no impermanent loss; the trade-off is that the position runs to maturity, and an early exit takes whatever the market will pay. Spectra publishes each PT’s current max fixed rate, which is the figure this report tracks.

Yield Tokens

Yield Tokens, or YTs, are the other half of a Spectra market and are worth naming even though a YT is not a yield source in itself. A YT is a derivative of XRP-denominated yield: it strips out and trades the variable yield a wrapped-XRP position earns up to maturity, which lets a holder amplify exposure to that onchain yield and to any associated points program without posting the full principal.

Spectra is currently the leader for XRP yield trading, and most YT activity these days sits on the stXRP pools, where traders buy YT to bet on a potential Firelight airdrop by accumulating its Firelight points.

Every venue on this page is an external protocol tracked for research. None are Harvest products. This page is informational only, and past rates are no promise of what a venue pays next.

Beyond the XRP Ledger’s own native AMM, every rate on this page starts with XRP moved onto a smart-contract chain in a wrapped form.

The wrapper matters as much as the venue: some are trustless and collateral-backed, others rest on a single custodian. The first three below, FXRP, stXRP and cbXRP, back every venue in this report; wXRP is included as the main form on Solana, a market that sits outside this report’s Flare-and-Base scope for now.

FXRPFlare

XRP bridged onto Flare through the FAssets system. It is a 1:1, over-collateralized ERC-20 minted by independent agents who post collateral (roughly 1.3x) while the real XRP stays on the XRP Ledger, verified on-chain rather than held by one custodian. FXRP went live on Flare mainnet on 24 September 2025 and is the base asset behind nearly all Flare XRP yield.

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stXRPFlare

Firelight's liquid staking token, minted 1:1 from FXRP. Its yield is designed to come from DeFi insurance, where other protocols pay cover fees that flow back to stXRP holders, rather than from token inflation. Firelight was incubated by Sentora, and stXRP is used across SparkDEX and Spectra.

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cbXRPBase

Coinbase Wrapped XRP, an ERC-20 on Base backed 1:1 by XRP held in Coinbase custody, with published proof of reserves. It launched in June 2025 and is the XRP form used across Base venues like Aerodrome and Moonwell. Backing is custodial, so it rests on Coinbase rather than an on-chain collateral system.

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wXRPSolana

Wrapped XRP on Solana, issued and custodied by Hex Trust and bridged through LayerZero, backed 1:1 by native XRP in segregated custody. It is the XRP form behind Solana pools on Raydium, Jupiter and elsewhere.

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Short answer: no. XRP is not a proof-of-stake asset, and the XRP Ledger has no validator staking and no native staking rewards.

So an advertised “XRP staking” rate is really describing something else. Every rate on this page comes from putting XRP to work in a market.

The label usually covers one of three mechanisms: lending XRP and earning the interest borrowers pay; supplying it to a liquidity pool and earning swap fees; or holding a liquid staking token such as stXRP, where a protocol stakes the wrapped XRP behind the scenes.

The XRP Ledger’s native AMM also pays trading fees on-ledger. None are native staking, and each carries its own risk, which is why every venue here is labelled by what it actually does.

XRP can also earn through centralized “Earn” programs on exchanges and lenders. They are worth understanding, because they compete for the same searches and make a different trade-off.

Centralized programs are simple: XRP is held on the platform, which pays a rate, sometimes higher than DeFi thanks to promotional or token incentives. The trade-off is custody.

The XRP sits with the provider, which introduces solvency and counterparty risk, and the rate can change or be pulled at will.

This report focuses on DeFi instead, because the positions are onchain and verifiable: the contract, the collateral and the real rate are all visible, and self-custody is usually retained.

There the trade-off is smart-contract and bridge risk rather than counterparty risk. Neither is strictly safer; they fail in different ways.

Every rate on this page carries risk. These are the main ones that sit behind the numbers.

Bridge and wrapper risk

Every wrapped XRP depends on whatever issues it. FXRP relies on Flare’s FAssets agents and collateral, cbXRP on Coinbase custody, wXRP on Hex Trust and LayerZero. If a bridge or issuer fails or de-pegs, the wrapped token can trade below the XRP it represents.

Impermanent loss

Liquidity pools pair XRP with a second asset. If the two prices move apart, the position can be worth less than simply holding, which can outweigh the fees and rewards it earned.

Incentive dependency

7 of the 14 venues here lean on reward-token emissions, mostly rFLR on Flare, for the bulk of their rate. Emissions are temporary by design, so those headline numbers tend to fall once a program tapers.

Curator and manager risk

Vaults are actively run by curators such as Clearstar, Gami Labs, Byzantine Labs and Monarq. Depositors rely on their allocation choices and controls on top of the underlying contracts.

Smart-contract and oracle risk

All of this is code. A bug, an exploit, or a bad price feed can cause loss even when the strategy itself is sound. Audits reduce this risk but never remove it.

A rate is only as good as what pays it. We looked into each venue in the ranking: what it actually is, where the yield comes from, who curates or manages it, and what points, incentives and backing sit behind it. Grouped by network, starting with Flare, where most XRP yield now lives.

Flare

Flare is where most XRP yield now lives. Its FAssets system turns XRP into FXRP without a single custodian, and a full DeFi stack has grown on top: lending markets, DEXes, liquid staking, and curated vaults. Almost everything here also stacks rFLR, Flare's reward token, on top of its base rate, so read the headline number as base yield plus time-limited emissions.

FXRP Lending MarketKineticOpen

Kinetic is a Compound and Aave style money market on Flare, built by Rome Blockchain Labs, the team behind BENQI and Moonwell. XRP holders supply FXRP to earn interest or borrow stablecoins against it without selling, and it is one of the largest single homes for FXRP in Flare DeFi.

The base rate is what borrowers pay. On top of it, suppliers collect rFLR from Flare's FAssets Incentive Program plus FXRP supply incentives, so the headline blends real borrow demand with emissions that taper over time.

TypeLending Market

NetworkFlare

Yield sourceBorrow interest, plus rFLR and FXRP supply incentives

Wrapped assetFXRP (Flare FAssets)

TeamRome Blockchain Labs (BENQI, Moonwell)

TokenJOULE, stakes to Kii for interest rebates and governance

AuditsCoinspect, Zellic and Watchpug, plus a Code4rena contest and Immunefi bounty

Flare XRP Yield PrimeSpectraOpen

Spectra, formerly APWine, is a fixed-rate and yield-tokenization protocol. It splits a yield-bearing token into a Principal Token and a Yield Token with a set maturity, so one side can lock a fixed rate to expiry while the other takes leveraged, variable exposure to the floating yield.

Flare XRP Yield Prime is a MetaVault on Spectra curated by Gami Labs. It takes FXRP or stXRP and keeps the liquidity positioned across Spectra's staked-XRP fixed-term pools, auto-rolling into the next pool at maturity and compounding as it goes. The underlying yield is Firelight staking rewards on stXRP plus swap fees and rFLR.

TypeMetaVault

NetworkFlare

Yield sourcestXRP staking rewards, PT/YT swap fees and rFLR

CuratorGami Labs

Wrapped assetFXRP, staked to stXRP via Firelight

IncentivesrFLR and SPECTRA emissions

AuditsPashov Audit Group and Code4rena

stXRP / FXRPSparkDEXOpen

SparkDEX is the leading DEX on Flare, spanning concentrated-liquidity pools (v3.1 and a v4 built on Algebra) and a perps venue. The stXRP / FXRP pool pairs Firelight's staked XRP with wrapped XRP, so both legs track XRP and the pair stays tight.

LPs earn swap fees plus rFLR from Flare's emissions program, which vests over roughly 12 months. Because both sides are XRP-denominated, impermanent loss is limited compared with a pool against an unrelated asset. On the v4 app the two tokens are entered by hand into the add-liquidity form.

TypePool

NetworkFlare

Yield sourceSwap fees plus rFLR emissions

Wrapped assetsstXRP (Firelight) and FXRP (Flare FAssets)

TokenSPRK, stakes to xSPRK for fee sharing

AuditsProtofire (v3, perps, token)

BackingIndependent, IDO launch via TrustSwap, no VC round

XRP Vault (csXRP)Mystic FinanceOpen

Mystic Finance is the front end for Morpho-powered lending on Flare. Supplying FXRP into its Clearstar-curated vault mints csXRP, a share token that represents the deposited FXRP plus the interest it earns as the curator allocates it across Morpho markets.

The yield is borrow interest from those markets, net of a fee (documented at 5 to 20 percent of interest) split between Mystic and the curator. Because a curator actively moves the money, depositors rely on that allocation as well as the underlying contracts.

TypeVault

NetworkFlare

Yield sourceBorrow interest from Morpho lending markets

CuratorClearstar, backed by Clearsight Investments AG, a Swiss manager near $1B AUM

Wrapped assetFXRP, wrapped again as the csXRP vault share

Built onMorpho

AuditsMystic's own vault contracts audited by Hacken (Dec 2024)

earnXRP and MXRPY vaultsUpshiftOpen

Upshift, a spinout of the onchain prime brokerage August, runs curated, professionally managed vaults. On Flare it powers two FXRP vaults: earnXRP, curated by Clearstar, and MXRPY, managed by Monarq Asset Management.

Instead of one fixed source, curators spread FXRP across active strategies: carry trades, staking, cover underwriting through Firelight and concentrated liquidity for earnXRP; options, funding-rate arbitrage and onchain XRPFi for MXRPY. You hold a vault receipt token redeemable back to FXRP, with a multi-day withdrawal window or instant redemption for a fee.

TypeVault

NetworkFlare

Yield sourceActive multi-strategy: carry, staking, LP, options and basis

CuratorsClearstar (earnXRP), Monarq Asset Management (MXRPY)

Wrapped assetFXRP (Flare FAssets)

PointsUpshift Points program

BackersDragonfly Capital, Hack VC, 6th Man Ventures, Robot Ventures

AuditsChainSecurity, Zellic, Sigma Prime and Hacken (per Upshift)

bizFXRP VaultSuperformOpen

Superform is a cross-chain yield marketplace. Its Flare vault, bizFXRP, is an institutional-grade strategy curated by Byzantine Labs that routes FXRP into Flare's XRP lending markets, tracked as an ERC-1155 SuperPosition.

The base yield is lending interest, actively reallocated by the curator. Superform layers its own Points program on top, roughly one point per $100 held per hour, with multipliers and NFT boosts.

TypeVault

NetworkFlare

Yield sourceFlare XRP lending interest

CuratorByzantine Labs

Wrapped assetFXRP (Flare FAssets)

PointsSuperform Rewards (Points)

BackersSeed led by Polychain, strategic round led by VanEck Ventures

AuditsV2 Core reviewed by Spearbit (Cantina)

Base

On Base, XRP arrives as cbXRP, Coinbase's 1:1 custodied wrapper. The yield comes from the same two places as everywhere else: swap fees on a DEX, or lending interest on a money market.

cbXRP / cbBTC and cbXRP / WETHAerodromeOpen

Aerodrome is the main ve(3,3) DEX on Base, built by the Velodrome team. Its Slipstream pools are Uniswap v3 style concentrated liquidity, and XRP comes in as Coinbase Wrapped XRP.

The cbXRP / cbBTC and cbXRP / WETH pools pay swap fees plus AERO emissions that veAERO voters steer to each pool every week. Rates move with vote weight and campaigns, and concentrated liquidity carries impermanent loss if the two sides drift apart.

TypePool

NetworkBase

Yield sourceSwap fees plus AERO emissions

Wrapped assetcbXRP (Coinbase, 1:1 custody)

Built byThe Velodrome team

AuditsForked from audited Velodrome v2; cbXRP contract by OpenZeppelin

cbXRP LendingMoonwellOpen

Moonwell was the first lending app on Base to list cbXRP. Supply cbXRP to earn borrow interest, with WELL incentives layered on top in some markets. It is a straightforward, single-sided way to earn on XRP with no second asset to manage.

TypeLending Market

NetworkBase

Yield sourceBorrow interest, plus WELL incentives

Wrapped assetcbXRP (Coinbase, 1:1 custody)

Every product on this page is published as clean, downloadable data for research and AI agents, licensed CC-BY-4.0. Each JSON carries the current rate and TVL plus its full daily rate and TVL history; each CSV is that daily series. The landscape’s total TVL over time is published too.

The full catalogue lives in index.json, and history.csvholds every product’s daily rate in one file. The same files are declared in this page’s Dataset metadata and in llms.txt.