XRPL Trading Concentrates Among Institutional Traders Amid $RLUSD Liquidity Surge
The XRP Ledger (XRPL) experienced a significant increase in trading activity and liquidity in Q2 2026, according to Evernorth's latest report. The number of accounts making trades on the order book fell from 1,864 to 1,111 per day, but those that remained traded much larger amounts, with the average daily trading volume per account nearly tripling.
This concentration of trading among fewer accounts suggests that professional and institutional traders are becoming a bigger part of the market. Order-book trading made up 81% of all decentralized exchange (DEX) trading on XRPL in Q2 2026, compared to 54% in the same period last year.
The $XRP Ledger's share of total $RLUSD supply grew from 20% to 34%, as $RLUSD balances on the network increased sharply by 642%. The amount of $RLUSD transferred also jumped, rising 925% year over year. This growth occurred despite the overall stablecoin market shrinking for the first time since 2023.