XRP Ledger activity concentrates as trading volume surges but active accounts decline
CoinDesk reported that XRPL order-book volume rose 79% year-on-year in Q2 while daily trading accounts fell 41%, concentrating activity among fewer, larger traders.
Why it matters
The data suggests the XRP Ledger is shifting from broad retail participation toward fewer but larger institutional or professional traders, a dynamic that could affect network governance and liquidity patterns. The growth in tokenized assets and RLUSD balances signals expanding institutional use of the ledger. As Evernorth prepares for a Nasdaq listing, these metrics will likely draw investor scrutiny.
Key facts
XRP Ledger order-book trading averaged 3.57 million XRP per day in Q2, up 79% from a year earlier.
3,570,000 XRPReported by CoinDesk
Daily accounts initiating order-book trades fell to about 1,100 from more than 1,860 a year earlier, a roughly 41% decline.
41 %Reported by CoinDesk
Average daily XRP traded per account rose to roughly 3,200 from about 1,070 a year earlier.
3,200 XRPReported by CoinDesk
Average tokenized-asset and RLUSD balances reached about $4.26 billion, up from $99 million six quarters earlier.
4,260,000,000 USDReported by CoinDesk
Institutional infrastructure expanded through tokenized Treasury settlement, permissioned-market upgrades, and U.S. spot XRP ETFs.
Reported by CoinDesk
Evernorth, an XRP treasury company, is preparing to list on Nasdaq.
Reported by CoinDesk
What happened
CoinDesk reported that XRP Ledger order-book trading averaged 3.57 million XRP per day in the second quarter, up 79% from a year earlier, while the number of accounts initiating trades dropped to roughly 1,100 per day from more than 1,860. That translated to about 3,200 XRP traded per account daily, compared with approximately 1,070 a year prior. Average tokenized-asset and RLUSD balances on the network reached roughly $4.26 billion, up from $99 million six quarters earlier, driven largely by growth in Ripple's RLUSD stablecoin. Daily active and new accounts declined by about a quarter. At the same time, institutional infrastructure expanded through tokenized Treasury settlement, permissioned-market upgrades, and U.S. spot XRP exchange-traded funds. The figures were shared by Evernorth, an XRP treasury company preparing to list on Nasdaq, in a quarterly report. Only one outlet covered the story, so all claims remain single-source.
How the story developed
- First report
First report by CoinDesk
XRP Ledger has fewer active accounts than last year, but bigger trades and more value
- Update
CoinDesk publishes Q2 XRPL activity report based on Evernorth data
The report covers trading volume, account counts, tokenized asset balances, and institutional developments on the XRP Ledger for the second quarter.
Affected entities
Also mentioned: Binance, Coinbase, Nasdaq
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| CoinDesk Crypto media | XRP Ledger has fewer active accounts than last year, but bigger trades and more value | Original |
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