According to reports from Evernorth, an XRP-focused treasury company backed by Ripple, Kraken, Pantera Capital, and SBI Holdings, daily transactions on the XRP Ledger have surged to nearly 3 million, up from roughly 1 million in mid-2025. The company claims that real banks are already using XRP, with Bitstamp, Ripple's RLUSD stablecoin, and Braza Bank among the busiest names on the network. As reported by Evernorth, XRPL transaction volume has tripled in roughly 12 months, with at least one major European bank deploying its regulated euro stablecoin on XRP, selecting it as one of four public chains for that purpose.
According to Evernorth's chief executive Asheesh Birla, as reported by news outlets, XRP's long-term value will come from banks and businesses using it as working capital, not from retail trading. In May 2026, Evernorth highlighted a tokenized U.S. Treasury redemption that coordinated Mastercard, J.P. Morgan's Kinexys, Ondo Finance, and Ripple using XRPL as the common settlement layer, with Ripple receiving USD proceeds in Singapore outside normal banking hours. The company described this as 'settlement infrastructure in one of the most significant cross-institutional blockchain transactions to date'. Recent market analysis suggests that XRP's first major upside target sits near $1.84, with potential for stronger institutional participation driving prices toward $2.20 to $2.60 range.
As reported by Chainalysis data, institutional-sized transfers on XRPL are stable in 2026, but they increasingly compete with USDC and wholesale CBDC projects for share of institutional settlement flow. The XRPL protocol is being upgraded with compliance infrastructure including Token Escrow, a Permissioned DEX, and Restricted Environments, designed to give regulated institutions whitelisted venues and escrowed settlement flows on-chain. The proposed XLS-66 XRP Lending Protocol would embed single-asset XRP vaults, fixed-term loans, and ZK-enhanced privacy directly into the ledger, but requires an 80% supermajority to activate. Recent market analysis indicates that XRP remains well below its all-time high of $3.84, currently trading around $1.24, with the token experiencing a strong recovery during 2025 before entering another correction phase.
According to reports, Ripple's On-Demand Liquidity service has been live in production since at least 2018, using XRP as a bridge asset across cross-border corridors in markets like the Middle East and Southeast Asia. While volume in those corridors is real, it is geographically concentrated, not the global banking rail the headline narrative implies. The data indicates that while the marketing narrative and on-chain metrics are not opposites, they are simply not the same thing, with the tension being structural between aspirational adoption claims and actual banking infrastructure development. Recent market analysis suggests that XRP benefits from several advantages including a mature 13-year-old network, stronger institutional relationships, and deeper liquidity compared to newer projects, though these strengths may not produce the same percentage returns as emerging technologies.
