XRP ended July at $1.06, down 42.7% from the end of 2025 and 27.5% year to date over the previous eight months, while daily trading volume dropped 64% to $2.38 billion. In contrast, XRP Ledger (XRPL) daily transactions increased 21% to 2.4 million from January through July, and validators rose from 119 to 141, according to Token Relation’s H1 report on Ripple and XRP. Ripple’s RLUSD, a dollar-backed stablecoin, grew 23.4% to $1.58 billion, with 58.9% of supply issued on XRPL by July, up from 18.4% at the start of the year. XRPL stablecoins reached a record $1.02 billion on July 13 and ended July at $798.4 million, up 173.9% from December. Ripple also expanded regulatory, institutional and tokenization initiatives, including additional European approvals, a Dubai regional headquarters, a proposed BC Payments Australia acquisition, and new Ripple Prime access. XRP later traded above $1.30, about 32% above its mid-August low of $1, leaving investors focused on whether XRPL adoption will generate sustained demand for XRP itself.