XRP Ledger (XRPL) processed 222.4 million transactions in the second quarter of 2026, the second-highest quarterly total on record.

The Crypto Basic, a blockchain outlet, reported on Tuesday that the second-quarter total was down 6.5 percent from 238.0 million in the previous quarter, the highest ever, but remained the second-highest level.

Average daily transactions were 2.44 million. Failed transactions totalled 54.6 million, accounting for 24.5 percent of the total. The failure share was 19.0 percent in the first quarter.

User indicators slowed, unlike transaction counts. Average daily active addresses were about 16,800, down 10.7 percent from the previous quarter and down 24.5 percent from a year earlier. New addresses averaged about 2,380 a day, down 22 percent from the previous quarter. Returning addresses were about 14,380, down 8.4 percent, showing existing users' activity held up relatively better than new users.

By contrast, XRP Ledger's decentralised exchange (DEX) trading contracted. Second-quarter DEX volume was $482.9 million, down 35.9 percent from the previous quarter. Central limit order book (CLOB) volume was $419.1 million and automated market maker (AMM) pool volume was $63.8 million. Most trading was concentrated in the order-book model.

The token ecosystem based on XRPL grew. The market value of about 1,100 tokens issued on the network stood at $980.4 million at the end of the second quarter, up 21.0 percent from the previous quarter and up 67.9 percent from a year earlier. RLUSD accounted for 69.0 percent, up sharply from 23.4 percent at the end of the first quarter.

Stablecoin supply also rose sharply. XRPL-based stablecoin supply stood at $825.5 million at the end of the second quarter, up 195.4 percent from $279.5 million in the previous quarter. Compared with $66.1 million a year earlier, it rose by more than 1,100 percent. RLUSD supply was $676.9 million, accounting for 82.0 percent of total stablecoins. USDB was $119.8 million, or 14.5 percent. Brazil's BBRL and Societe Generale's EURCV were $12.5 million and $11.4 million, respectively.

Despite growth in the network ecosystem, XRP prices were weak. XRP rose from about $1.31 at the start of the second quarter to $1.48 in mid-May, then fell to end the quarter at $1.04. That was 19.9 percent below the end of the first quarter and 53.5 percent below $2.23 at the end of the year-earlier quarter. XRP is now trading near $1.10, up 11.12 percent over 24 hours, supported by a broader rebound in the crypto market.

In the second quarter, XRP Ledger maintained the second-highest level of transaction processing on record and stablecoin supply surged. New users and DEX volume both fell. Whether RLUSD's growth translates into higher user and trading activity will be key.

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