XRP Ledger Sheds Casual Users as Institutional Money Pours In
The XRP Ledger posted mixed quarterly results in Q2 2026. On one hand, active accounts dropped by about 40% and new sign-ups slowed down. However, when looking deeper into the data, a different picture emerges.
Trading volume per account nearly tripled to $3.72 billion, with tokenized assets on the ledger more than doubling from Q1. Ripple's stablecoin RLUSD grew over 600% in average supply and transfer value.
This shift is not indicative of a network in decline but rather one that's shedding casual users while attracting institutional money. The number of daily active accounts dropped, but each remaining account moved nearly three times as much volume.
The increase in tokenized assets, primarily US Treasury bonds and money market funds, shows the utility of XRP's infrastructure. The ledger settled tokenized Treasury redemptions in under five seconds, a feat traditional finance rails can't match.