finbold.com
As the $XRP Ledger (XRPL) saw a 13% decline in network activity and a 4% sell-off in $XRP price over the last 30 days, its transfer volume for Real World Assets (RWA) tumbled by more than $563 million.
The $XRP Ledger’s 30D RWA transfer volume crashed by 96.88% over the past 30 days, according to data from RWA.xyz. As such, the XRPL had a RWA transfer volume of $18.15 million on August 3, down from $581.5 million 30 days ago.
During the same period, the XRPL recorded a 23% increase in the number of RWA holders, reaching 197 at press time. The decline in the network’s 30-day RWA transfer volume coincided with a 4.51% decline in XRPL’s Distributed Asset Value, which tracks RWA tokens already distributed on the $XRP Ledger, to $378.76 million at the time of publication.
Essentially, $XRP Ledger tokenization growth continued despite the implosion of the RWA trading volume. Moreover, an increase in RWA holders reveals more token issuance despite a slump in RWA trading volume. As such, the significant decline in trading activity for real-world assets over the past 30 days could be associated with a lower issuance of tokenized assets by institutions.
$XRP price outlook amid reduced RWA trading activity on $XRP Ledger
As $XRP Ledger’s 30D RWA transfer volume fell steeply over the last 30 days, the decline in network activity coincided with the token’s sell-off. Furthermore, XRPL’s daily transaction count dropped by 174,284, from 1,280,975 on July 3 to 1,106,691 at the time of publication, based on metrics from CryptoQuant.
Meanwhile, $XRP price fell by %4.42% from $1.13 on July 3 to $1.08 at the time of reporting. As a result, $XRP’s price remains closely tied to the network’s RWA trading volume.