XRP Ledger Sees Record-Breaking Account Growth Amid Price Divergence

The XRP Ledger has experienced significant growth in the first half of 2026, adding 489,739 new accounts between January 1 and June 30. This brings the network's total account count from 7,913,554 to 8,403,293, with active accounts surpassing 8.42 million by July.

Ripple's RLUSD stablecoin has seen its circulating supply on the XRP Ledger grow to approximately $873 million in the first half of the year. Every RLUSD transaction settles in XRP fees, creating structural demand for XRP as a utility token.

The growth in XRPL transaction volume exceeded 35% quarter-over-quarter in Q1 2026, according to Messari. Meanwhile, XRP held on exchanges has fallen to a seven-year low of 2.748 billion tokens, indicating that holders are moving assets into self-custody or longer-term positions.

The price divergence problem persists, with XRP trading near $1.07 in July 2026, down roughly 41% year-to-date. Despite the strongest first-half account growth in recent memory, the price has not recovered. Cumulative spot ETF inflows for XRP reached $1.5 billion on a cumulative basis.