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XRP 
RLUSD Significant changes in XRP Ledger's trading dynamics in the second quarter of 2026
According to the latest data from the "XRP Liquidity Report for the Second Quarter of 2026" released by Evernorth, the trading dynamics of XRP Ledger have changed significantly in the second quarter of 2026: although the number of accounts executing transactions has decreased, the number of XRPs transferred per account has increased significantly.
Retail participation declines
The number of daily trading accounts on the XRP Ledger order book dropped from 1,864 in the second quarter of 2025 to 1,111 in the same period of 2026, a year-on-year decrease of 40%. This trend suggests that the number of individual traders actively participating in the market is decreasing.
Although the number of active accounts has dropped sharply, the average transaction volume per account has increased significantly. On average, active participants trade 3,217 XRPs per account per day, compared to 1,072 XRPs a year ago. This shift suggests that the remaining traders are executing significantly larger transactions.
Liquidity concentration and order-book dominance
On XRP Ledger, order-book transactions account for 81% of total centralized exchanges (DEX), compared with only 54% in the second quarter of 2025. The average daily transaction volume of the overall DEX activity was 4.42 million XRPs, an increase of 20% compared with last year. However, this number fell 16% compared to the first quarter of 2026, which was marked as a quarter of exceptionally strong transaction volume for the network.
Thereport points to a structural change: a smaller group of active accounts tends to conduct higher-value transactions, leading to a greater concentration of liquidity within the network.
每个参与账户的平均订单簿活动从每日1,072枚XRP上升至3,217枚XRP，意味着平均活跃账户的交易量约为一年前的三倍。
尽管越来越多的机构产品开始利用XRP Ledger，但目前尚不清楚大型机构是否正在直接取代小型散户交易者。多个账户可能由单一实体控制，个人也可能使用多个地址，这使得精确归因变得具有挑战性。
名词解释：Evernorth是一家专注于区块链和数字资产市场的分析与市场情报公司，以其对链上流动性和交易趋势的深度报道而闻名。
链上资产价值激增
2026年第二季度，XRPL上的代币化资产平均价值约为37.2亿美元，比一年前的同一季度高出30多倍。RLUSD是一种在各种金融产品中使用的主流稳定币，其平均余额从之前的7,300万美元攀升至5.39亿美元。这些资产共同将XRPL上的总联合价值推高至约42.6亿美元。
This significant increase reflects the tokenization of real-world assets and the wider adoption of stablecoins on books, in line with global digital finance trends.
Increase in new accounts and broader network development
Despite the surge in value on the chain, indicators of network participation show a downward trend. The number of daily trading accounts fell 24% year-on-year to 16,600, while the number of new accounts registered per day fell 25% to 2,800.
On the contrary, liquidity is increasingly concentrated in a few large accounts, while the value of financial assets placed online has increased significantly.
Analysts believe these changes signal that XRPL is moving beyond its original role as a retail payment network. As the ledger expands its infrastructure for institutional assets, stablecoins, and tokenized securities, its user base and transaction model characteristics continue to change.
