The report shows that the practicality of XRP has been enhanced in institutional DeFi applications, and the expansion of XRPL functionality has driven growth. Key data includes: US spot ETF XRP holdings increased by 2% to 775 million XRP, accounting for approximately 1.3% of the circulating supply; RLUSD market value on XRPL increased by 45% to $340 million; The market value of RWA on XRPL increased by 124% to 2.25 billion US dollars, ranking fourth among all networks; The daily trading volume increased by 35% to 2.48 million transactions. The implementation of identity, compliance, and privacy functions has also enhanced the value of XRP, and institutions have adopted increased practices to drive more operations to use XRP. （Messari）
