XRPL Sees Surging Order-Book Trading Volume Amid Declining Active Accounts
The XRP Ledger (XRPL) saw an unusual trend in Q2 2026, where order-book trading volume increased by 79%, reaching 3.57 million XRP per day, while the number of active accounts decreased by 40%. This divergence highlights why relying solely on raw account numbers can be misleading when assessing blockchain adoption.
According to Evernorth's Q2 2026 XRP Liquidity Report, the average trading activity per participating account increased from 1,072 XRP per day to 3,217 XRP, roughly three times the year-earlier level. Order books accounted for 81% of XRPL decentralized exchange activity, compared with 54% one year earlier.
While the data suggests larger or more professional trading activity, it does not necessarily prove that institutions are using XRPL. One institution can operate multiple blockchain accounts, while an individual can control several addresses.