This week, crypto market intelligence platform Messari launched its Q3 State of XRP Ledger (XRPL) report, revealing a maturing community that continues to attract institutional consideration. The information factors to stronger engagement, elevated transaction volumes, and a rising variety of new addresses, signaling that the Ledger is evolving from a retail-heavy blockchain into one more and more pushed by enterprise-adoption and Actual-World Asset (RWA) tokenization.
Institutional Exercise Mirrored In XRP Ledger Community Progress
Messari’s report highlights clear indicators of institutional motion inside the XRPL community throughout Q3 2025. Common every day transactions rose 8.9% Quarter-Over-Quarter (QoQ), from $1.6 million to $1.8 million. Likewise, the typical every day energetic sender addresses elevated by 15.4% from 21,900 to 23,300, whereas complete new addresses rose by 46.3% to 447,200. Total, the Ledger closed the quarter with 6.9 million complete addresses, up 6.1% from the earlier quarter, in line with Messari’s metric chart.
Notably, for the fifth consecutive quarter, Messari notes that the variety of energetic receiver addresses on the Ledger continued to surpass the variety of energetic sender addresses. In Q3 2025, common every day receivers declined 30.01% QoQ, falling from 72,000 to 50,300, whereas common every day senders rose 15.4% from 21,900 to 25,300.
Regardless of the drop in receiver exercise, information exhibits that complete community throughput strengthened, with common every day transactions climbing 8.9% QoQ to $1.8 million. This displays a extra concentrated and higher-value transaction circulation, sometimes linked to custodians and CEXs, which use vacation spot tags to handle deposits for establishments and enormous teams of customers.
Messari additionally reported that “Fee” transactions on XRPL remained dominant, representing 55.7% of complete community exercise, whereas “OfferCreate” transactions, which submit orders to exchanges, elevated to 33.2%. This marks the seventh consecutive quarter that Funds have led transaction varieties.
Knowledge exhibits that fee quantity rose 1% QoQ to 986,600 after a earlier decline, whereas OfferCreate exercise confirmed rising liquidity operations amongst institutional market makers. OracleSet, used to create or replace on-chain value oracles, additionally rose to 0.7% of all transactions, underscoring the Ledger’s rising integration with asset pricing and monetary information feeds since their activation in late 2024.
Infrastructure Upgrades And ETFs Sign XRPL Institutional Adoption
The second half of Messari’s report highlights structural developments within the XRPL ecosystem aimed toward facilitating institutional adoption. Knowledge reveals that the Ledger introduces Multi-Function Tokens (MPTs) that embed metadata for RWA parameters.
It additionally carried out confidential MPTs secured by Zero-Data Proofs (ZKPs) and superior credential methods supporting KYC and AML compliance. Collectively, these upgrades deal with the community’s identification, monetary, compliance, and privateness necessities, laying the inspiration for widespread institutional adoption.
Messari additional reported that Institutional sentiment is additional supported by the pending approval of seven US Spot XRP ETF functions. Notably, the US Securities and Change Fee (SEC) is anticipated to concern its resolution between October 18 and November 14. Polymarket at the moment assigns a 99% chance {that a} US XRP ETF will likely be authorized in 2025.
Featured picture from Pxfuel, chart from Tradingview.com
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