XRP Records New XRPL Account Growth and TVL Highs Suggest Potential Market Share Gains

• XRP experienced a significant surge in user engagement and ecosystem growth in July, marked by over 10,000 new XRPL accounts activated in a single day—the highest since February.

• The total value locked (TVL) on the XRP Ledger reached an all-time high of $92 million, driven primarily by its decentralized exchange and the newly launched XRPL EVM Sidechain.

• According to COINOTAG, the XRP Dominance index surpassed 5% in July, reflecting increased market share and capital inflows despite potential risks from leveraged futures trading.

XRP’s ecosystem growth in July saw record new accounts and TVL, with XRP Dominance rising above 5%, signaling renewed investor interest and expanding market presence.

XRP’s Ecosystem Growth Accelerates with Record New Accounts and TVL

July marked a pivotal month for XRP as the network witnessed a surge in new account activations on the XRP Ledger (XRPL). Data from XRPScan reveals that on July 18 alone, over 10,000 new accounts were created, the highest daily figure since February 2025. This uptick signals a resurgence of investor interest and suggests a growing user base that could underpin long-term ecosystem stability.

Complementing this growth, the number of daily active wallet addresses exceeded 50,500, doubling the previous month’s figures and reaching a level not seen since early 2025. This increase in active participation highlights a strengthening community engagement and transactional activity within the XRPL network.

Moreover, the total value locked (TVL) on XRPL surged past $92 million, setting a new all-time high. This milestone was primarily fueled by activity on XRPL’s decentralized exchange (DEX), which has benefited from increased liquidity and trading volume. The launch of Ripple’s XRPL EVM Sidechain Mainnet in early July further catalyzed this growth by enabling developers to deploy smart contracts and launch tokens, expanding XRPL’s DeFi capabilities.

Number of New Accounts Activated. Source: XRPScan.

XRP Ledger Total Value Locked. Source: DefiLlama

XRPL EVM Sidechain Boosts DeFi Innovation and Liquidity

The XRPL EVM Sidechain launch represents a strategic advancement for Ripple, enabling Ethereum-compatible smart contract functionality on the XRP Ledger. This integration has attracted over 1,300 smart contracts and more than 17,000 active addresses in a short span, demonstrating strong developer and user adoption.

This expansion enhances XRPL’s decentralized finance (DeFi) ecosystem by facilitating token launches and liquidity pool creation, which in turn drives higher TVL and trading activity on the DEX. The sidechain’s compatibility with Ethereum tooling also lowers barriers for developers, encouraging cross-chain interoperability and innovation.

XRP Dominance Surpasses 5%, Indicating Growing Market Share

The XRP Dominance (XRP.D) index climbed above 5% in July, approaching levels last seen in early 2025. This metric measures XRP’s market capitalization relative to the entire cryptocurrency market, reflecting investor preference and capital allocation trends.

XRP Dominance – Source: TradingView

Market analysts suggest that XRP.D could continue to rise, with some forecasting targets of up to 15% by the end of 2025, while others recall the peak dominance of 30% during the 2017 bull run. This growing dominance underscores XRP’s strengthening position amid a competitive altcoin landscape.

Currently, XRP’s market capitalization exceeds $211 billion, positioning it as the 78th largest asset globally, surpassing major corporations such as Shell, Blackstone, and Siemens. This highlights XRP’s increasing relevance not only within crypto but also in broader financial markets.

However, COINOTAG’s recent analysis cautions investors about the rising volume of XRP futures contracts, which have reached all-time highs. The presence of leveraged positions and signs of short-term profit-taking could introduce volatility and liquidation risks in the near term, warranting careful risk management.

Risk Considerations Amid Rising Futures Activity

While XRP’s fundamental indicators are strong, the surge in futures trading volume introduces potential short-term risks. Over-leveraged positions may face forced liquidations if market conditions shift abruptly, which could lead to increased price volatility.

Investors are advised to monitor futures market dynamics closely and consider the implications of leveraged trading on XRP’s price stability. Maintaining a balanced portfolio and employing prudent risk controls remain essential strategies in this environment.

Conclusion

July’s data underscores a robust phase of growth and renewed investor interest in XRP, highlighted by record new account activations, an all-time high in total value locked, and rising market dominance. The launch of the XRPL EVM Sidechain has been a key catalyst, expanding XRPL’s DeFi capabilities and attracting developer activity.

Despite these positive developments, the increasing futures market activity introduces short-term risks that investors should carefully evaluate. Overall, XRP’s ecosystem momentum and expanding market presence position it well for continued relevance in the evolving crypto landscape.

Stay informed and consider these insights when evaluating XRP’s potential as part of your investment strategy.