XRPL Traders Fall 40% Year Over Year While Order-Book Volume Climbs 79%

XRPL order-book trading averaged 3.57 million XRP a day in Q2 2026, up 79% from 1.99 million XRP a day a year earlier. The increase is notable because the number of accounts initiating those trades fell 40% over the same period, to 1,111 a day from 1,864, according to data reported by CoinDesk and crypto.news.

The Q2 readings point to order-book activity being carried by fewer participating accounts than in Q2 2025. The verified data table below details the year-over-year changes.

Data Snapshot

MetricCurrentPreviousChangePeriodAs ofSourceAverage daily XRPL order-book volume3.57 million XRP a day1.99 million XRP a dayup 79% from a year earlierQ2 2026 compared with Q2 20252026-09-05CoinDeskDaily accounts initiating order-book trades1,111 a day1,864 a dayfell 40% over the same periodQ2 2026 compared with Q2 20252026-09-05crypto.newsAverage XRP traded per account each day3,217 XRP1,072 XRPnearly tripledQ2 2026 compared with Q2 20252026-09-05CoinDeskAssets XRP changed hands against on the order bookabout 319 a day480 a daydown 18% on the yearQ2 2026 compared with Q2 20252026-09-05CoinDesk

Larger activity per trading account

The diverging volume and account counts are reconciled by the amount traded by each participating account. Average XRP traded per account each day rose to 3,217 XRP in Q2 2026, from 1,072 XRP in Q2 2025—an increase that nearly tripled the per-account figure.

Total average daily order-book volume captures all XRP traded on the order book; that measure captures the average activity associated with each participating account. The figures show a 79% rise in daily volume even as daily accounts initiating trades fell from 1,864 to 1,111.

CoinDesk characterized the quarter as one in which fewer active accounts made bigger trades. The reported figures, however, do not identify the types of participants behind that shift or explain what drove individual account trading sizes.

Assets traded against XRP at a six-quarter low

Order-book activity also narrowed across the assets changing hands against XRP. The daily number fell to about 319 in Q2 2026 from 480 a year earlier, a decline reported as 18% on the year.

The Q2 2026 reading was the lowest in the six quarters covered by the report. It sits alongside the higher overall XRP volume and the lower account count, indicating that increased trading was concentrated in a smaller set of participating accounts and assets than a year earlier.

The quarter’s clearest numerical contrast remains the change in activity per account: average daily order-book volume reached 3.57 million XRP, while average XRP traded per participating account each day reached 3,217 XRP. Both rose from Q2 2025 levels despite the 40% decline in accounts initiating trades.

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