XRP Ledger Value Surges Despite Slowing User Growth

The XRP Ledger has experienced significant growth in value held on its network. According to Evernorth's Q2 data, the average value held on the ledger reached US$4.26 billion, a new high in their six-quarter dataset.

This increase is largely driven by the growth of RLUSD balances, which averaged US$539 million and rose 642% from a year earlier. The total value held on XRPL, including tokenised assets, more than doubled to US$3.72 billion.

However, despite this surge in value, several measures of user activity have slipped. Daily transacting accounts fell by around 25%, and new accounts dropped by the same percentage year over year.