Add as a preferred source on GoogleStablecoin and Fiat-Backed Pairs Account for 86% of XRP DEX Trading
XRP was involved in 92% of $1.65 billion in Ripple USD swaps on the ledger’s DEX during 2026, or about $1.52 billion.
Stablecoins and fiat-backed tokens were on the opposite side of 86% of XRP trades on the XRP Ledger’s native decentralized exchange (DEX) in 2026 to date, up from 50% in 2025 and 10.5% in 2024.
The 86% figure describes XRP trades against those tokens, not their share of all trading on the DEX. The figures add a broader view of trading pairs to TokenPost’s earlier coverage of RLUSD swap volume.
Ripple USD (RLUSD) swaps on the DEX totaled $1.65 billion during 2026, with XRP involved in 92% of that volume, or about $1.52 billion. Evernorth, an XRP treasury company listed on Nasdaq under the ticker XRPN, characterized the relationship this way: “The dollar isn’t taking liquidity away from XRP. It trades against XRP.”
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.