The Ripple (XRP) market has seen a decline in the number of accounts actively trading, while the trading volume per account has expanded significantly. Meanwhile, U.S. spot Ripple (XRP) exchange-traded funds (ETFs) have recorded inflows for 11 consecutive trading days, with on-chain trading and institutional fund flows simultaneously emerging as key market variables.

Orderbook Volume Up 79%... Trading Accounts Decline

According to a report by CoinDesk citing the quarterly report of Evernorth, a Ripple (XRP) treasury company, orderbook volume on major decentralized exchanges on the XRP Ledger averaged 3.57 million XRP per day in the second quarter. This represents a 79% increase from the same period last year.

In contrast, the number of accounts initiating orderbook trades averaged only about 1,100 per day, a sharp decline from more than 1,860 a year earlier.

Trading Volume per Account Triples

With fewer trading accounts, the trading intensity of the remaining accounts has actually increased. Average daily trading volume per account came to about 3,200 XRP, nearly triple the roughly 1,070 XRP recorded in the same period last year. This suggests that relatively large-scale trades, rather than a simple increase in account numbers, are forming orderbook liquidity.

Spot ETF Records 11 Consecutive Trading Days of Net Inflows... Cumulative Total Reaches $1.68 Billion

Institutional fund flows are also continuing into Ripple (XRP)-related products. U.S. spot Ripple (XRP) ETFs have recorded net inflows for 11 consecutive trading days, with approximately $170 million in new capital flowing in during this period. On the most recent trading day, an additional $14.38 million came in.

As a result, cumulative net inflows since the product's launch last November have expanded to approximately $1.68 billion. The streak of consecutive net inflows began on the 18th of last month.

By asset manager, Franklin Templeton's Ripple (XRP) ETF attracted $6.63 million, the largest figure, while Grayscale's product drew $4.72 million.

Inflows Continue Despite Price Volatility

Although the price of Ripple (XRP) showed significant volatility during the same period, ETF capital continued to flow in. XRP has recently been trading at around $1.33. While this is somewhat lower than the roughly $1.45 level seen on the 27th of last month, it remains well above the $1 range seen in mid-last month.

Ultimately, the recent Ripple (XRP) market has simultaneously seen a decrease in the number of individual or small-scale trading accounts and an increase in trading volume per account, alongside continued institutional inflows through ETFs. Notably, trading intensity within the XRP Ledger is rising even as the number of participating accounts falls, and inflows through spot ETFs continue in traditional financial markets. Whether the market's trading structure is shifting toward larger capital compared with the past is expected to be a key point to watch going forward.

[※ This article was written for informational purposes regarding the cryptocurrency market and does not recommend the purchase or sale of any specific virtual asset or guarantee investment returns. Price forecasts, support and resistance levels, and target prices mentioned in the article are scenarios based on technical analysis by market participants and may unfold differently from actual price movements. Cryptocurrencies are high-risk assets with extreme price volatility, and investors may lose part or all of their principal. Investment decisions and their consequences rest solely with the investor, so please thoroughly review market conditions and relevant information before investing. This article was written with AI assistance.]