XRP Ledger Holds $4.26B as Active Accounts Fall 24%

Average value held on the XRP Ledger reached $4.26 billion in Q2 2026, the highest reading in the six-quarter period studied. The liquidity measure rose even as accounts transacting on the network averaged about 16,600 a day, down 24% from a year earlier, according to CoinDesk.

More value was held on the ledger even as the daily base of transacting accounts contracted. The order book reflected that pattern as well: trading volume increased year on year, while fewer accounts initiated those trades.

Data Snapshot

$4.26 billion average value coincides with RLUSD’s rise

The $4.26 billion average value held compares with $99 million six quarters earlier, according to The Crypto Basic. Its source described the Q2 2026 result as the highest level in the six-quarter period studied.

Average RLUSD balances on the XRP Ledger reached $539 million in Q2 2026, up 642% from $73 million a year earlier. The RLUSD figure is a separate average-balance metric and should not be added to, or treated as interchangeable with, the ledger-wide value-held reading.

Together, the two measurements place a larger amount of value on the ledger during the quarter, with RLUSD balances markedly higher than a year earlier.

RLUSD supply metric by Evernorth — Source: The Crypto Basic

Fewer XRP Ledger accounts transacted in Q2

About 16,600 accounts a day transacted on the XRP Ledger in Q2, down 24% from a year earlier, while average value held reached a six-quarter high.

The account figure measures the daily transacting base, not value held; the available figures show the divergence without identifying why fewer accounts transacted.

Order-book volume rose as initiating accounts fell

Average daily order-book trading volume was 3.57 million XRP in Q2 2026, up 79% from a year earlier, CoinDesk reported. At the same time, daily accounts initiating order-book trades fell by about 41% to about 1,100 a day, from more than 1,860.

That combination means order-book volume increased despite fewer accounts starting trades. It is consistent with activity being carried by a narrower set of participants, though the figures alone do not show the identity or behaviour of those accounts.

Q2 therefore closed with three distinct readings: $4.26 billion in average value held, about 16,600 daily transacting accounts and 3.57 million XRP in average daily order-book trading volume.

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