XRP Ledger Transactions Reach Record Levels Amidst Market Pressure

The XRP Ledger processed over 222 million transactions in Q2 2026, marking its second-highest quarterly transaction total ever. Despite being under pressure from a downtrend that began in Q4 2025, activity on the network remained close to its record level set in Q1.

Average daily active addresses fell by 10.7% compared to Q1 and 24.5% year-over-year, while new address creation slowed down by 22%. However, existing users continued to be more active than new ones during the quarter.

The native decentralized exchange (DEX) on the XRP Ledger saw a decline in trading volume, with DEX volume dropping by 35.9% QoQ to $482.9 million. Central limit order book (CLOB) handled most of this volume at 86.8%, while automated market maker (AMM) pools recorded $63.8 million.

The market value of issued currencies on the XRP Ledger increased by 21% QoQ and 68% YoY, reaching $980.4 million at the end of the quarter. The majority of this growth came from the stablecoin RLUSD, which made up 69% of the issued-currency value.