Explore recent performance of the XRP Ledger: 2.7M daily transactions, 35% increase in tokenized assets, and $1.19B in stablecoin activity.
Overview of XRP Ledger's Recent Performance
The XRP Ledger has experienced a surge in activity, with daily successful payments hitting a 12-month high of over 2.7 million transactions. This marks a significant increase from around 1 million transactions in late 2025. The network processes between 2 and 2.8 million transactions daily, with a throughput of 20 to 26 transactions per second. Automated market maker (AMM) pools have grown to nearly 27,000, supporting over 16,000 unique tokens.
Growth in Tokenized Assets and Stablecoin Activity
The value of tokenized real-world assets (RWAs) on the ledger has risen to $461 million, a 35% increase over the past 30 days. This growth is evident in the stablecoin transfer volume, which has reached $1.19 billion over the same period. Despite this robust activity, XRP's trading price has seen a year-to-date decline of 26%, reaching $1.37 from its late-2025 high of $3.65. The gap between the network's usage and token value highlights the current dynamics in the market.
Structural Factors Influencing Token Value
The standard crypto narrative suggests that higher network activity drives token value. However, XRP is diverging from this pattern. Metrics such as transactions and stablecoin transfer volumes are up, yet the token's price has not followed suit. The most likely explanation for this divergence lies in the structural factors that drive the network's usage. RLUSD, Ripple's stablecoin, plays a significant role in the network's activity. Transactions that use XRP for a brief period, such as cross-border payments between fiat currencies, do not generate the same level of demand for the token as long-term staking or locking of assets in DeFi protocols.
Comparison with Other Blockchains
Comparing XRP's metrics with other blockchains provides a clearer picture of its current standing. XRPL's total value locked (TVL) in DeFi stands at $47.54 million, a figure that is minuscule relative to its market capitalization of $84 billion. In contrast, Solana has a TVL of approximately $4 billion, and Ethereum has over $40 billion. XRP's DeFi layer is a rounding error compared to its valuation, indicating that the market cap is still driven by speculative positioning rather than productive on-chain activities.
The Role of AMM Pools and RWA
The growth in AMM pools is notable, with nearly 27,000 active pools and 12 million XRP deposited. However, the dollar value of this liquidity remains relatively thin. The RWA picture offers a more favorable outlook. Tokenized real-world assets on the ledger have reached $461 million, with $1.5 billion in represented asset value. The 30-day RWA transfer volume of $149 million, up over 1,300%, suggests genuine institutional activity. If the tokenization thesis materializes, XRPL could establish a strong foothold in this space.
Historical Performance and Market Sentiment
March historically averages an 18% return for XRP, with the $1.27 to $1.30 support zone holding through multiple tests. If macroeconomic conditions stabilize and the Iran conflict resolves, a potential relief bounce to $1.60 or higher is plausible. The market's sentiment remains cautiously optimistic, with investors watching for signs of sustained demand and capital locked into productive activities on the blockchain.
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