XRP Ledger Activity Soars in Q1 Despite XRP Price Slump: Messari
XRP had a somewhat troublesome begin to 2026 from a worth standpoint, however the underlying XRP Ledger confirmed notable indicators of development, in line with the most recent State of XRP report by Messari.
The analytics agency outlines a pointy distinction between the weaker market efficiency and powerful community fundamentals, with stablecoin adoption, real-world asset tokenization, and transaction exercise all rising throughout the quarter.
XRP Price Falls as Trading Activity Cools
During the primary quarter of the yr, XRP was, for essentially the most half, the fourth-largest non-stablecoin cryptocurrency via whole market capitalization, trailing solely Bitcoin, Ethereum, and Binance Coin.
However, the token wasn’t proof against the broader market downturn. Its market cap declined by 26% quarter-over-quarter to about $82 billion, whereas its worth dropped by 27% to $1.34 on the time of this writing.
Per Messari’s report, buying and selling exercise additionally slowed down throughout the cited interval. Average every day spot quantity declined by 32%, whereas perpetual futures quantity declined by 28.6%. That mentioned, institutional publicity continued to construct, as CryptoPotato covered just lately. The quarter ended with ETFs holding about 775.4 million XRP, which is roughly 1.26% of the asset’s presently circulating provide.
XRPL Sees Growth in RWAs, Transactions, and Stablecoins
While XRP’s worth struggled, XRPL exercise moved in the wrong way, supporting the case for robust elementary assist. Messari indicated that common every day transactions elevated by 35% quarter-over-quarter, rising from 1.83 million to 2.48 million.
The community additionally noticed rising adoption throughout stablecoins and tokenized belongings.
Ripple’s RLUSD stablecoin expanded to a market cap of $340.3 million on the XRPL by the tip of the quarter, up 45% from the earlier quarter. Meanwhile, XRPL’s real-world market cap soared by 124% QoQ to an all-time high of $2.25 billion.
Messari additionally reported that new infrastructure is being constructed in institutional-oriented decentralized finance. During the quarter, permissioned domains, permissioned DEX, and token escrow went stay. Meanwhile, native lending protocols and asset vaults are nonetheless in voting.
All in all, these developments may be taken to counsel that XRPL’s institutional finance narratives continued to strengthen, regardless of the weakening worth efficiency of XRP.
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