The XRP Ledger (XRPL), the blockchain network behind XRP, has experienced significant growth over the last seven days. The decentralized exchange (DEX) volume has registered a 203% increase, climbing from around $108,000 on July 1 to over $300,000 as of July 7, 2025.
Trading volume nearly triples as users flock to XRPL
DeFiLlama data shows that in the last 24 hours, DEX volume stood at $305,913, indicating an uptick in trading activity on the ledger. The surge in DEX volume suggests growing user interest in the platform, reflecting a shift in market dynamics.
Within just six days, trading volume almost tripled, which could indicate that users are moving away from centralized exchange issues. It could also signal that market participants consider XRPL as a trustworthy, scalable, low-cost blockchain for users in the space.
This development is largely driven by the many Ripple tokenization moves in recent times. In April 2025, Ripple Labs hinted at its plans to dominate the rapidly growing tokenization market. According to Ripple’s estimate, the market could reach $18.9 trillion in another eight years.
The soaring DEX volume suggests that Ripple is determined to stake a claim in the tokenization market, and users are comfortable with the XRP Ledger platform.
EVM sidechain launch unlocks new utility
Ripple’s vision for future real-world asset tokenization has been embraced by one of its major partners in Japan. Notably, Yoshitaka Kitao, CEO of SBI Group, a financial giant in the Asian country, endorsed the move. Kitao detailed how tokenization of financial assets is transforming services in the industry.
Meanwhile, the recent launch of a compatible EVM sidechain, which enables Ethereum-based decentralized applications (dApps) to operate on XRPL, could be an added catalyst to the soaring volume. This boost in interoperability is likely attracting traders and developers alike to XRPL.
The launch marks a milestone toward achieving general-purpose smart contract capabilities on XRP Ledger.
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