XRP Ledger liquidity trends show RLUSD surging 642% as retail traders retreat
A new quarterly report on XRP Ledger liquidity trends shows a network moving bigger money through fewer hands. According to Evernorth Research’s Q2 2026 scorecard, trading on the XRP Ledger got heavier and more concentrated at the same time, even as capital tied to tokenized assets, stablecoins and institutional infrastructure kept building underneath it. The picture that emerges is one of a maturing settlement layer attracting deeper pools of value while everyday retail participation cools off.
Key takeaways
- XRPL decentralized exchange volume averaged 4.42 million XRP per day in Q2 2026, up roughly 20% year over year, while daily active trading accounts fell to about 2,435.
- RLUSD balances on the XRP Ledger jumped 642% year over year to average $539 million, with value moved up 925%, lifting XRPL’s share of total RLUSD supply from 20% to 34%.
- A portion of a tokenized US Treasury fund settled its asset leg on-ledger in under five seconds.
- US spot XRP ETFs pulled in $273 million in net inflows across the quarter, with every single month landing positive.
- The Clarity Act advanced out of the Senate Banking Committee, while a new OCC rule cleared the way for national trust banks to offer crypto custody services.
XRP Ledger Trading Activity and Liquidity in Q2 2026
Trading on the XRP Ledger grew louder but narrower in Q2 2026, with fewer wallets responsible for a larger share of total flow. That single dynamic runs through nearly every data point in Evernorth’s report and defines the quarter’s XRP Ledger liquidity trends more than any single headline number.
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