Real-World Assets Surge on XRPL While Network Activity Shows Diverging Trends

XRP Ledger has achieved a striking milestone with its real-world asset (RWA) market capitalization climbing to an unprecedented $131.6 million by the end of Q2 2025. This expansion signals institutional adoption accelerating across the blockchain ecosystem, though underlying network engagement tells a more nuanced story about how the growth is distributed.

The RWA Revolution Gains Institutional Momentum

The impressive RWA expansion was catalyzed by a series of high-profile asset tokenizations announced during XRPL Apex in Singapore. Major institutional players brought sophisticated financial products onto the blockchain, including Ondo’s OUSG tokenized treasury fund, Guggenheim’s digital commercial paper offering, and Ctrl Alt’s tokenized real estate portfolio. These developments positioned XRPL as a dominant platform for bridging traditional finance with blockchain infrastructure, attracting sophisticated investors seeking exposure to regulated, real-world backed assets.

Simultaneously, the stablecoin ecosystem flourished. RLUSD, Ripple’s fiat-backed stablecoin, reached $65.9 million in market capitalization—a remarkable 49% quarter-over-quarter increase that solidified its position as the network’s leading stablecoin. The ecosystem gained additional depth with Circle’s USDC integration, Braza Group’s USDB, Schuman Financial’s EURØP, and StratsX’s XSGD, creating a diverse stablecoin marketplace that strengthens XRPL’s utility for cross-border transactions and DeFi applications.

Engagement Metrics Reveal Mixed Dynamics

While RWA and stablecoin growth dominated headlines, granular network activity data painted a more complex picture. Quarter-over-quarter, several key engagement indicators contracted noticeably. Average daily active addresses declined sharply by 41.2%, falling to 75,200 from the prior quarter’s level. Fresh user onboarding showed similar pressure, with newly created addresses dropping 46.2% to 305,800. Daily transaction volume also retreated 20%, recording 1.6 million transactions per day.

However, the broader user base remained resilient. Total addresses on XRPL expanded 4% quarter-over-quarter, reaching 6.5 million, suggesting that while day-to-day activity eased, the cumulative network foundation continued expanding. Year-over-year metrics underscored this durability: average daily active addresses surged 165.5% and new address creation jumped 219.8% compared to Q2 2024, indicating that Q2’s slowdown occurred against a backdrop of exceptional long-term growth.

NFT Market Rebounds With Explosive Minting Activity

NFT activity staged a dramatic recovery that contrasted sharply with the decline in general transaction metrics. Daily average NFT transactions soared 226.9% quarter-over-quarter, climbing from 15,400 to 50,400. This surge was overwhelmingly driven by minting activity, which exploded more than tenfold from 3,400 to 37,800 daily mints, reasserting NFTokenMint as the network’s dominant transaction category after remaining subdued in Q1 2025.

The XLS-20 NFT standard has now facilitated the creation of nearly 13.5 million cumulative NFTs on XRPL, distributed across multiple quarters: 3.4 million from Q2 2023, 1.8 million from Q4 2024, and 3.4 million from Q4 2023. This diverse minting history reflects sustained creator interest and demonstrates that NFT infrastructure maturity on XRPL extends beyond a single market cycle.

XRP Price at Inflection Point as Analysts Model Ambitious Scenarios

XRP, the native blockchain asset, currently trades at $1.92, up 2.45% over the past 24 hours. Despite recent moderation from its recent highs, the token remains in focus among technical analysts mapping long-term trajectories.

Analyst EGRAG CRYPTO recently applied logarithmic-scale linear regression analysis to XRP’s historical price behavior, identifying an R-squared value of 0.84754—suggesting a robust statistical model with strong explanatory power. The regression framework outlined three distinct price scenarios dependent on how XRP navigates its established historical price channel: a conservative target of $18, a moderate projection of $27, or an outlier scenario where the token reaches $200.

While such bullish projections require caution given cryptocurrency volatility, the analytical framework reflects growing confidence that XRPL’s institutional-grade ecosystem—anchored by RWA tokenization, stablecoin proliferation, and NFT infrastructure—could eventually justify significantly higher valuations for its native token. The convergence of regulatory clarity, institutional adoption, and technical maturity suggests XRPL may be transitioning from niche blockchain experiment to essential financial infrastructure.