According to Evernorth's October report, 92% of the $1.65 billion in Ripple USD (RLUSD) swapped on the XRP Ledger in 2026 traded directly against XRP. The data covers only RLUSD exchanged on the ledger's built-in order book. Evernorth noted that stablecoins and fiat-backed tokens made up 86% of XRP spot trading volume on the ledger in 2026, up from 50% in 2025 and 10.5% in 2024.

Tokenized value recorded on the XRP Ledger grew from $1.76 billion in February to over $5 billion as of October 20, 2026. Evernorth ranks the network sixth globally among all blockchains in tokenized assets. The report estimated roughly $400 billion in tokenized real-world assets exist globally, yet only about $39 billion can be directly traded or settled on-chain.

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