XRP Ledger Shatters Records as RWA Market Cap Explodes—Wall Street Giants Dive Into Blockchain Revolution

Forget trading memes—real-world assets are flipping the script on crypto's utility case.

Institutional On-Ramp Accelerates

Major financial players just stampeded onto the XRP Ledger, pushing real-world asset tokenization to unprecedented heights. They’re not dipping toes—they’re diving headfirst into blockchain’s most practical use case.

RWA: No Longer Niche

Tokenized bonds, commodities, and property contracts are surging, proving crypto isn’t just speculative gambling. The ledger’s speed and low costs finally give TradFi a reason to care—beyond just chasing the next pump.

Wall Street’s Ironic Embrace

Same institutions that once dismissed crypto now race to tokenize everything—talk about a plot twist. They’ll deny it’s about efficiency gains and pretend it’s always been part of the master plan.

This isn’t another hype cycle—it’s infrastructure eating finance. And honestly? Watching bankers try to explain blockchain to shareholders might be the best entertainment in years.

XRP Ledger Sees Mixed Quarter

The surge in real-world assets on XRPL set the stage for broader network activity, but despite these high-profile launches, daily engagement metrics highlighted a contrasting slowdown.

In the second quarter, most network metrics showed declines, but the notable exception was total addresses, which grew 4% quarter-on-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 dropped 46.2% to 305,800, as the network witnessed a reduced engagement from both new and existing users.

Despite this quarterly slowdown, year-over-year figures remain strong, with average daily active addresses up 165.5% and new addresses increasing 219.8%. Average daily transactions on the network also declined 20% in Q2, recording 1.6 million.

The stablecoin metrics, on the other hand, stayed strong. At the end of Q2, RLUSD, Ripple’s USD-backed stablecoin, reached a market cap of $65.9 million on the XRPL. This figure represented more than a 49% increase quarter-on-quarter as RLUSD cemented 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 has expanded the XRPL stablecoin ecosystem.

Meanwhile, NFT activity on the network staged a strong recovery in Q2 as daily average total transactions climbed 226.9% from 15,400 to 50,400. The primary driver was a tenfold jump in NFT minting, which ROSE from 3,400 to 37,800 per day, while other NFT transaction types remained mostly unchanged.

Interestingly, NFTokenMint reemerged as the dominant transaction type after a quieter Q1 2025, similar to its surge in Q4 2024. By quarter-end, the XLS-20 standard accounted for nearly 13.5 million minted NFTs, including 3.4 million from Q2 2023, 1.8 million from Q4 2024, and 3.4 million from Q4 2023.

XRP’s Jaw-Dropping Upside Potential

Its native token, XRP, fell below the crucial level of $3 after a minor slump of 1.51% over the past day. Despite the setback, a new regression model has sparked speculation that the altcoin could one day reach $200.

Analyst EGRAG crypto applied a linear regression on a logarithmic scale, noting an R-squared value of 0.84754, which indicated strong historical correlation. The model outlines three potential outcomes: $18, $27, or a dramatic $200 overshoot, depending on XRP’s interaction with its historical price channel.