XRP had a weak start to 2026 in terms of market performance, but activity on the XRP Ledger increased significantly. Despite a 27% price drop, XRPL daily transactions rose 35.3% to 2.48 million. RLUSD became the network’s largest stablecoin, and XRPL’s RWA market cap also increased. Trading activity slowed during the quarter. Institutional finance tools on XRPL expanded, with new features going live. Morgan Stanley disclosed small positions in XRP-focused ETFs, and XRP funds saw inflows. RLUSD adoption grew, but stablecoin settlement did not necessarily create direct demand for XRP as a bridge asset.

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