XRP Ledger Joins the Blockchain Boom as Big Players RWA Market Cap Hits

While RWAs and stablecoins have prospered, the average daily transactions on the XRP Ledger have declined as the network saw mixed performance this quarter.

The blockchain behind the XRP cryptocurrency – XRPL – finished the second quarter of 2025 with a RWA market value of $131.6 million. According to Mesari data, the growth was fueled by newly released properties announced by XRPL Apex in Singapore.

Among the most important additions are the Ondo OUSG token fund, the Guggenheim Digital Commercial Paper and the Ctrl Alt token real estate.

XRP Ledger sees a mixed quarter

The rise of real-world assets on XRPL has set the stage for widespread network activity, but despite these high profiles, daily engagement metrics have shown an opposite slowdown.

In the second quarter, most network metrics showed declines, but the exception was total addresses, which grew 4% quarter-over-quarter from 6.3 million to 6.5 million. Average daily active addresses fell sharply by 41.2% to 75,200, while total new addresses fell by 46.2% to 305,800.

Despite this quarterly slowdown, year-over-year figures remain strong, with average daily active addresses up 165.5% and new addresses up 219.8%. Average daily transactions on the network fell by 20%, to 1.6 million.

Benchmarks of stablecoins, on the other hand, remained strong. At the end of Q2, RLUSD, Ripple's USD-backed stablecoin, reached a market value of $65.9 million on XRPL. This figure represents a quarter-on-quarter increase of over 49% as RLUSD cements its position as the largest stablecoin on the network.

Other launches during the same period included Circle's USDC, Braza Group's USDB, Schuman Financial's EURØP and StratsX's XSGD, which expanded the XRPL stablecoin ecosystem.

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Meanwhile, NFT activity on the network made a strong recovery in Q2. The main driver was a tenfold jump in NFT mining from 3,400 to 37,800 per day, while other forms of NFT trading remained largely unchanged.

Interestingly, NFTOkenMint has emerged as a dominant form of trading after a quiet Q1 2025, similar to the rise in Q4 2024. At quarter-end, the XLS-20 standard held approximately 13.5 million NFTs. 2023.

XRP's jaw-dropping upside is likely.

Its native token, XRP, fell below the $3 critical level after a small fall of 1.51% the previous day. Despite the obstacles, a new reform model has led to speculation that the altcoin may one day reach $200.

Analyst EGRAG CRYPTO applied a linear regression, noting an R-squared value of 0.84754 on a logarithmic scale, which indicates a strong historical correlation. The model lists three possible outcomes based on XRP's interaction with the historical price channel: $18, $27, or a staggering $200 profit.