As the XRP Ledger (XRPL) saw a 13% decline in network activity and a 4% sell-off in XRP price over the last 30 days, its transfer volume for Real World Assets (RWA) tumbled by more than $563 million.
The XRP Ledger’s 30D RWA transfer volume crashed by 96.88% over the past 30 days, according to data from RWA.xyz. As such, the XRPL had a RWA transfer volume of $18.15 million on August 3, down from $581.5 million 30 days ago.
During the same period, the XRPL recorded a 23% increase in the number of RWA holders, reaching 197 at press time. The decline in the network’s 30-day RWA transfer volume coincided with a 4.51% decline in XRPL’s Distributed Asset Value, which tracks RWA tokens already distributed on the XRP Ledger, to $378.76 million at the time of publication.
Essentially, XRP Ledger tokenization growth continued despite the implosion of the RWA trading volume. Moreover, an increase in RWA holders reveals more token issuance despite a slump in RWA trading volume. As such, the significant decline in trading activity for real-world assets over the past 30 days could be associated with a lower issuance of tokenized assets by institutions.
XRP price outlook amid reduced RWA trading activity on XRP Ledger
As XRP Ledger’s 30D RWA transfer volume fell steeply over the last 30 days, the decline in network activity coincided with the token’s sell-off. Furthermore, XRPL’s daily transaction count dropped by 174,284, from 1,280,975 on July 3 to 1,106,691 at the time of publication, based on metrics from CryptoQuant.
Meanwhile, XRP price fell by %4.42% from $1.13 on July 3 to $1.08 at the time of reporting. As a result, XRP’s price remains closely tied to the network’s RWA trading volume.
