TLDRRipple expects to end 2026 with a record $900 million annualized product revenue run rate.XRP has lost 28.8% of its value this year and trades near $1.29.More than 1,700 institutions now use Ripple’s tools, including HSBC, BNY and Robinhood.Treasury Secretary Scott Bessent opened Ripple’s Swell conference with CEO Brad Garlinghouse.XRP could post back-to-back yearly losses for the first time since 2018 and 2019.Ripple says 2026 is its best year ever. The blockchain company expects to end the year with a record $900 million annualized product revenue run rate.At the same time, XRP is heading for its worst year since 2022. The token has lost nearly 29% of its value so far this year.Ripple President Monica Long called it the company’s “best year ever.” She pointed to the revenue milestone and growing use of Ripple’s tools by major financial firms.We’re kicking off 10 years of @RippleSwell with a bang!1/ Goes without saying, but it was an honor to open up our conference with @SecScottBessent. His leadership, alongside the current administration, has been instrumental in ensuring that responsible crypto can thrive in the… pic.twitter.com/9kvULoDY0n— Brad Garlinghouse (@bgarlinghouse) October 27, 2026Ripple Reports Customer Growth and New DealsRipple said more than 1,700 institutions and businesses now use its infrastructure. The number of customers using more than one Ripple product has tripled this year.Major customers and partners include Standard Chartered, DBS, HSBC, Robinhood and BNY. Ripple said its products enabled more than $16 trillion in transactions in 2025.Its payments network is nearing $150 billion in total transaction volume. Its RLUSD stablecoin has grown more than 88% this year to a market value of $2.6 billion.Last year, Ripple spent over $2.4 billion on acquisitions. These included Hidden Road, now Ripple Prime, for $1.25 billion, GTreasury for $1 billion and Rail for $200 million.CEO Brad Garlinghouse said Ripple aims to bring services usually offered by separate firms onto one platform. The company uses blockchain technology and digital assets like XRP to do this.On Oct. 26, the Office of the Comptroller of the Currency gave final approval for Ripple National Trust Bank. The bank can manage RLUSD reserves and offer digital asset custody services.The same day, Ripple Treasury launched a 24/7 Returns feature. It lets eligible business customers earn returns on qualifying digital assets, including RLUSD, during nights, weekends and holidays.Ripple is hosting its Swell conference from Oct. 27 to 29 at The Shed in Manhattan. Treasury Secretary Scott Bessent opened the event with Garlinghouse.Garlinghouse said Bessent’s leadership “has been instrumental in ensuring that responsible crypto can thrive in the US.” He also pointed to a new agreement with Robinhood and expanded work with BNY.XRP Heads for Worst Year Since 2022CryptoRank data shows XRP has lost 28.8% in 2026. That follows an 11.6% drop last year.The token rose 82.5% in 2023 and 235.7% in 2024. This year, it fell from a high of $2.40 to below $1 in August.The wider crypto market has also struggled. Bitcoin dropped below $60,000 at one point this year after hitting a record near $126,000 in October 2025.Bitcoin has since recovered above $80,000 but is still down about 8% this year. Ethereum has fallen about 20% and Solana about 17%.XRP traded near $1.29 on Oct. 29, down about 3% in 24 hours. It is down more than 50% over the past 12 months.If losses hold through December, XRP would post its worst year since its 59.2% drop in 2022. It would also be the token’s first back-to-back losing years since 2018 and 2019.The post Ripple Reports 1,700 Institutional Customers as XRP Slides This Year appeared first on Blockonomi.