A major increase occurred between March 5 and March 8, when the number of addresses jumped from 36,618 to 52,643. This added 16,025 addresses in just three days.
Growth then continued at a slower pace, with the figure passing 58,000 by May 18. On May 19, another sharp increase pushed the number from 58,780 to 62,569, adding 3,789 addresses in a single day.
The metric continued to rise gradually over the following months, reaching 66,220 addresses by Aug. 10. However, another major jump followed. Between Aug. 10 and 15, the number increased by 19,981 to reach 86,201.
The figure continued to rise gradually, reaching a new all-time high of 86,794 addresses on Sept. 2. This marked the highest number of RWA holding addresses recorded in the $XRP ecosystem.
The increase did not continue for long. After reaching its Sept. 2 peak, the number of addresses gradually declined to 85,031 by Sept. 17. It then began to recover, reaching 85,706 at the time of reporting. This brings the total increase since the start of 2026 to exactly 47,953 addresses.
Stablecoins Drive Most of the Growth
Further data from RWA.xyz shows that stablecoins account for most of the increase in RWA holding addresses. Ripple USD ($RLUSD) has recorded strong growth this year, alongside several smaller stablecoins.
Of the 85,706 addresses holding RWAs across the $XRP ecosystem, approximately 81,300 belong to stablecoin holders. Other categories of real-world assets account for roughly 4,400 addresses.
Stablecoin activity has also increased over the past month. Transfer volume rose by 16.48% in the last 30 days to reach $6.10 billion. Meanwhile, overall RWA transfer volume recorded an even larger increase, surging by 1,458% over the same period to $7.03 billion.
However, the increase in transfer activity has not led to growth in every area. The total stablecoin market capitalization fell by a modest 0.21% over the last 30 days to $1.07 billion.
This comes as Ripple appears to have slowed the pace of $RLUSD minting in recent weeks. Despite this decline, $RLUSD still accounts for 65.93% of the entire distributed RWA market on the $XRP Ledger, with an XRPL-based market value of more than $1 billion at the time of reporting.
$XRP RWA Market Records Mixed Results
While the number of holding addresses and transfer volumes have increased, other measures of RWA market growth have produced mixed results over the past month.
Notably, distributed asset value declined by 1.44% during this period to $496.56 million. Meanwhile, represented asset value moved in the opposite direction, rising by 2.40% over the same period to $4.55 billion. The number of RWA holders also increased by 12.4% to 290.
