Evernorth Report: XRP Network Value Rockets 43x in 6 Quarters – What it Means for Price

In Brief: XRPL network value increased 43-fold across six quarters, reaching $4.26 billion as liquidity and tokenized asset activity expanded steadily Order-book volume rose 79% annually, while fewer participating accounts handled larger XRP trades and strengthened institutional influence across XRPL markets. Deeper liquidity may support XRP’s price structure, although weaker retail participation prevents network growth alone from guaranteeing immediate market appreciation. The value recorded on the XRP Ledger increased from $99 million to $4.26 billion across six consecutive quarters. According to recent research by XRP treasury firm Evernorth, every quarter delivered growth, with Q2 2026 producing the highest value within the measured period. The 43x increase shows that substantially more capital and tokenized value now operate across the XRP Ledger. Evernorth calculated the average value recorded throughout each quarter, rather than using a temporary quarter-end figure. Therefore, the $4.26 billion total represents sustained liquidity formation across XRPL instead of activity surrounding one transaction. The expansion also suggests that institutions and larger traders are becoming more active within the network. Trading activity involving XRP (XRP) strengthened alongside the increase in network value. XRPL’s decentralized exchange processed 4.42 million XRP daily, approximately 20% above the corresponding quarter last year. Order-book volume reached 3.57 million XRP daily, representing a 79% annual increase. Moreover, order-book transactions accounted for 81% of decentralized exchange activity, compared with 54% one year earlier. Source: Evernorth However, participating trading accounts declined from 1,864 to 1,111 daily during the same comparison period. Consequently, average order-book volume per account increased from 1,072 XRP to 3,217 XRP daily. The nearly threefold increase in volume per account indicates that fewer participants handled substantially larger trades. This pattern often appears when professional or institutional activity captures a greater portion of market volume. Also Read: Liquid Hackers Offer to Return Most of 4,000 BTC Once Vulnerability Is Fixed Institutional Developments Strengthen XRP Ledger Liquidity Institutional participation provided another important component behind the rising value recorded across XRPL. United States spot XRP exchange-traded funds attracted $273 million during the second quarter. Additionally, those investment products recorded positive monthly inflows throughout April, May, and June. Persistent ETF inflows provided regulated XRP exposure while bringing more institutional capital into the broader market. A tokenized United States Treasury fund redemption also demonstrated XRPL’s settlement capabilities during May. The transaction’s asset component settled on the ledger within five seconds, based on the issuer’s report. Meanwhile, the XRPL EVM sidechain migrated from Evmos software to the actively maintained Cosmos EVM framework. This migration introduced newer Ethereum standards and reduced technical barriers for developers creating XRP-connected applications. Another protocol amendment (the fixCleanup3_1_3) activated on the XRP Ledger during the quarter and strengthened permissioned domains and multi-purpose tokens across the network.