A fintech CEO has laid out a bold vision for the XRP Ledger. He believes 2026 is a narrow window for the network to jump into the top tier of blockchains. This leap requires a major shift in strategy from its key supporters.
The warning comes from Panos Mekras, founder of Anodos Finance. He points to current metrics as a serious concern. The network has only a few thousand active users. Its daily DEX volume is frequently under $10 million. The AMM’s total value locked struggles below $50 million. These numbers, roughly two years after launch, signal a need for urgent change.
Mekras argues the target must be explicit. The XRP Ledger should aim to move into the top three networks. This ranking would be based on volume, liquidity, and overall activity. It is an ambitious but necessary goal for survival and growth.
The core issue, according to Mekras, is a liquidity gap. He frames this as an infrastructure and distribution problem. The XRP Ledger remains an isolated island in the broader crypto ecosystem. It has limited bridges to other chains and relies on fragmented, high-fee gateways.
His prescription involves direct integration with mainstream payment rails. He calls for native support for major systems like VISA and Mastercard within XRPL applications. This would allow users to issue cards and spend XRPL assets in real time, creating seamless on and off ramps.
Stablecoin alignment is another critical constraint. The recent launch of RLUSD is positive. However, reaching a $1 billion market cap in its first year is not good enough. It must compete against incumbents with circulations ranging from $5 billion to $180 billion.
Mekras also argues the XRP Ledger lost its consumer narrative. This happened after Ripple’s 2014 pivot toward payments and B2B services. That shift trained the market to associate XRP primarily with Ripple partnerships. Many holders remain unaware of the ledger’s native DEX and token features.
Ripple CTO David Schwartz offered a different perspective in 2023. He stated the DEX ecosystem was strong at the time of the pivot. He cited over $8 million per day in swaps and payments that Ripple could confirm as real activity.
For 2026, Mekras wants a new positioning. The XRP Ledger should be seen less as a payments network. It should be marketed more as a protocol-layer finance stack. Core features would be built-in, not stitched together through smart contracts.
The vision includes aggregated liquidity and one dominant DEX. A key pillar is an effort called XRPFi. This initiative aims to turn the over $100 billion of dormant XRP into productive, yield-generating capital. It would push XRP liquidity into programmable environments.
He cites specific technical routes to achieve this. Flare’s FXRP via FAssets offers a path into smart contracts without central custodians. Axelar and Midas’s mXRP is highlighted as an institutional-grade liquid staking token. It could enable 5-10% APY, creating liquid XRP variants for use as collateral.
The consumer strategy must focus on invisible infrastructure. Utility apps should hide all crypto mechanics from the end-user. If a user is ever prompted to ‘Add a Trust Line’ or manage reserves, the design has failed. The interface must be indistinguishable from trusted modern mobile apps.
To enable this, specific technical upgrades are top priorities. Sponsored Fees and Reserves would let developers sponsor account costs. Batch Transactions would compress multi-step actions into a single, atomic signature. These features are essential for a smooth user experience.
Mekras saved his sharpest criticism for the grant funding system. He called Ripple’s 2022 commitment of 1 billion XRP a Ghost Fund. He estimates less than 5% has reached active builders in four years, totaling under $50 million.
A slow grant program is a bureaucracy, not a growth engine. He argues the XRP Ledger needs million-dollar checks for proven teams. It requires direct liquidity incentives and a unified developer experience. The ecosystem needs a war chest mentality in 2026.
The final call is for aggressive action. Fund distribution and liquidity, fix onboarding friction, and build consumer products where the XRP Ledger is simply the backend. Without this, the network risks remaining technically capable but unable to attract sustained users, builders, or capital at scale.