XRP Ledger's daily average order book trading volume reached 3.57 million XRP in Q2, up 79% year-over-year, according to a report from digital asset treasury firm Evernorth. While daily active accounts dropped from 1,864 to 1,111, the average daily volume per account surged from 1,072 to 3,217 XRP, pushing order book transactions' share of on-chain activity from 54% to 81%. Meanwhile, Ripple's USD stablecoin RLUSD saw its average supply on XRP Ledger hit $539 million, a over 6x increase year-over-year, with its share of total supply rising from 20% to 34%. This growth occurred amid the first contraction in the overall stablecoin market since 2023. Evernorth is preparing for a Nasdaq listing via a merger with Armada Acquisition Corp. II, with the planned ticker XRPN.
XRP Ledger posted a sharp jump in order book activity in the second quarter, as average daily trading volume climbed 79% year over year to 3.57 million XRP, digital asset treasury firm Evernorth said.
But the report also pointed to a change in how users were acting: daily active trading accounts fell from 1,864 to 1,111, while average daily volume per account did the opposite. It more than tripled, moving from 1,072 XRP to 3,217 XRP. So, order book transactions now make up 81% of on-chain transactions, up from 54% in the same stretch last year.
At the same time, the supply of Ripple's USD stablecoin RLUSD on XRP Ledger averaged $539 million in Q2. That was more than six times higher than a year earlier. Its slice of RLUSD's total circulating supply increased from 20% to 34%. And this happened while the broader stablecoin market went through its first contraction since 2023.
Evernorth, the firm that pulled together the data, is also moving toward a public listing on Nasdaq through a merger with special purpose acquisition company Armada Acquisition Corp. II. The combined company plans to trade under the ticker symbol XRPN.
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