Stablecoin activity on the XRP Ledger has expanded despite XRP falling 45.47% this year. According to RWA.xyz, 30-day stablecoin transfer volume rose 10% to $4.32 billion, while the number of stablecoin holders increased 36.7% to 82,110. The XRP Ledger Foundation highlighted the holder figure in a post on X, citing data from the RWA Foundation. The network’s stablecoin market cap slipped 3.07% over the past 30 days to $954.79 million but remains 227% above its $291.4 million starting point for the year. Ripple’s RLUSD accounts for $898.8 million, or 94%, of the network’s stablecoin market cap and 62.41% of its total distributed RWA market. Broader RWA activity was mixed: holders rose 27% to 221, while distributed asset value excluding stablecoins fell 1.90% to $485.25 million, represented asset value declined 0.30% to $4.05 billion, and RWA transfer volume plunged 96.25% to $10.14 million. The data points to rising participation but slower trading and movement of RWA assets.