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The value of stablecoins and tokenized assets on the $XRP Ledger (XRPL) has grown about 43 times in just six quarters.
According to Evernorth, the average value of these assets rose from $99 million in Q1 2025 to $4.26 billion in Q2 2026. The value increased every quarter, with no declines.
The Q2 2026 figure was the highest recorded, suggesting that the $XRP Ledger is managing and settling large financial assets.
Tokenized Assets Fuel XRPL Growth
Tokenized assets were the main reason for XRPL’s rapid growth. According to the report, tokenized assets on XRPL averaged $3.72 billion in Q2 2026, up more than 3,000% from the previous year.
$RLUSD, Ripple’s dollar-backed stablecoin, also grew quickly. Its average balance reached $539 million in Q2 2026, compared with $73 million a year earlier — a 642% increase.
$RLUSD’s balance increased every quarter over the six-quarter period. Its share of the stablecoin supply on XRPL also rose from 20% to 34%. The amount of money moved through $RLUSD also jumped 925% compared with a year earlier
Fewer Accounts, But More Value Per Account
Meanwhile, XRPL has fewer active users, but the users who remain are moving more value. The average number of accounts making transactions each day fell to 16,587 in Q2, down from a previous high of 33,145. New wallets also dropped, from 6,617 per day to 2,783.
However, the amount of $XRP traded by each account is much higher than it was in 2025. $XRP traded per account rose 81% in Q4 2025 and another 85% in Q1 2026. Although it fell 15% in Q2, it was still 2.7 times higher than where it started.
In simple terms, fewer accounts are active, but the accounts that are active are moving much more money.
DEX Activity Points to Bigger Traders
The same trend is also visible on XRPL’s decentralized exchange (DEX).
Order-book trading averaged 3.57 million $XRP per day in Q2, up 79% from a year earlier. However, the number of accounts executing trades dipped from 1,864 to 1,111 each day.
This means each active account traded about 3,217 $XRP per day, compared with 1,072 a year earlier. Order-book transactions also accounted for 81% of DEX activity, unlike 54% last year.
Evernorth noted that higher trading volumes with fewer active accounts could mean professional traders are becoming a bigger part of the market. This trend also comes as $XRP Ledger adds more tools aimed at institutions, including permissioned trading platforms.
XRPL Infrastructure Keeps Growing
On May 20, the XRPL EVM sidechain launched version 9.0.0. The update replaced older Evmos software with newer Cosmos EVM technology and added support for newer Ethereum standards.
On May 27, the fixCleanup3_1_3 update went live. It enhanced MPTs and permissioned domains while supporting new lending and vault features.
On June 4, $RLUSD expanded to more networks through Wormhole. It gained native connections to Optimism, Ink, Base, Unichain and the $XRP Ledger EVM sidechain, in addition to XRPL and Ethereum.
Source: cryptonews.net