XRP Ledger Hits Record $131.6M in Real-World Assets Amid Mixed Network Performance

The XRP Ledger (XRPL) closed Q2 2025 with a record $131.6 million market cap in real-world assets (RWAs), driven by new tokenized products including treasury funds, commercial paper, and real estate. These launches marked a milestone for XRPL as it positioned itself as a growing hub for tokenized assets.

Despite the surge in RWAs, overall network activity showed a slowdown. Average daily active addresses fell 41.2% to 75,200, while new addresses dropped 46.2% to 305,800. Daily transactions also declined 20% to 1.6 million. However, year-over-year growth remained strong, with active addresses and new addresses rising more than 160% and 200% respectively.

Stablecoins provided a bright spot. Ripple’s RLUSD grew 49% quarter-over-quarter to a $65.9 million market cap, making it the largest stablecoin on XRPL. Additional stablecoin issuances such as USDC, USDB, EURØP, and XSGD further strengthened the ecosystem.

NFT activity also rebounded, with daily transactions up 226.9% to 50,400. The surge was fueled by a tenfold increase in NFT minting, reinforcing XRPL’s expanding role in digital collectibles.

Meanwhile, XRP itself slipped below $3, though long-term models continue to suggest possible upside scenarios ranging from $18 to a speculative overshoot of $200, depending on future market dynamics.