XRP Ledger has fewer active accounts than last year, but bigger trades and more value
A quarterly report indicates that while the number of active accounts on the XRP Ledger has declined, the volume and value of trades have increased significantly. The growth is largely attributed to the adoption of Ripple's dollar-backed stablecoin, RLUSD.
Why it matters
This shift suggests a transition toward institutional or high-volume usage of the XRP network, which is a key indicator of the health and maturity of the crypto ecosystem.
Order-book trading averaged 3.57 million XRP a day during the quarter, up 79% from a year earlier. At the same time, the number of accounts initiating those trades fell to about 1,100 a day from more than 1,860.
That worked out to roughly 3,200 XRP traded per account each day, against about 1,070 a year earlier, Evernorth, the XRP treasury company preparing to list on Nasdaq, shared in a quarterly report with CoinDesk.
An account is not necessarily one person. A trading firm can use several, while an individual can do the same. The data therefore cannot show whether institutions are replacing retail traders — but indicates XRP is being traded by a smaller group of active accounts.
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