The value recorded on the XRP Ledger increased from $99 million to $4.26 billion across six consecutive quarters. According to recent research by XRP treasury firm Evernorth, every quarter delivered growth, with Q2 2026 producing the highest value within the measured period. The 43x increase shows that substantially more capital and tokenized value now operate across the XRP Ledger. Evernorth calculated the average value recorded throughout each quarter, rather than using a temporary quarter-end figure.