RWA holding addresses on the XRP Ledger (XRPL) have risen by nearly 48,000 so far in 2026.

Decrypt reported on Oct. 14 that the number of RWA holding addresses on the XRP Ledger increased to 85,706 from 37,753 at the start of the year.

The rise was not steady throughout the year. After exceeding 39,000 in mid-February, the number fell as low as 35,530. It then surged to 52,643 from 36,618 between March 5 and March 8, an increase of 16,025 in three days. Another 3,789 were added in a single day on May 19. Between Aug. 10 and Aug. 15, 19,981 more were added, pushing the total to 86,201.

After reaching a record 86,794 on Sept. 2, the number went through another correction. It later fell to 85,031 on Sept. 17, but recovered partly to 85,706 at the time of the tally.

Most of the increase came from stablecoins. Of the 85,706 RWA holding addresses across the XRP ecosystem, about 81,300 were stablecoin holding addresses, while other RWA types totalled about 4,400. Ripple USD (RLUSD) and some smaller stablecoins led growth this year.

Transaction activity also expanded. Over the past 30 days, stablecoin transfer volume rose 16.48 percent to $6.1 billion. Total RWA transfer volume surged 1,458 percent over the same period to $7.03 billion. That indicates the increase in addresses also led to a rise in the amount moved.

Market indicators, however, did not move in one direction. Total stablecoin market capitalisation fell 0.21 percent over the past 30 days to $1.07 billion. Ripple appears to have slowed the pace of RLUSD issuance in recent weeks, but RLUSD still accounted for 65.93 percent of the decentralised RWA market on the XRP Ledger. RLUSD market capitalisation on the XRP Ledger was above $1.0 billion at the time of the tally.

Other RWA indicators were also mixed. The value of decentralised assets fell 1.44 percent over the past 30 days to $496.56 million. By contrast, the value of representative assets rose 2.40 percent over the same period to $4.55 billion. The total number of RWA holders increased 12.4 percent to 290 people.

The XRP Ledger's RWA market expanded in terms of addresses and transfer volume, but differences emerged by segment in market capitalisation and asset values. With the growth in holding addresses centred on stablecoins, particularly RLUSD, attention is expected to focus on whether RWA growth on the XRPL spreads to other asset classes.