Yes

>>XRP clearly stands as the most utilized asset on the XRPL, and here’s the evidence.

XRP clearly stands as the most utilized asset on the XRPL, and here’s the evidence.

crypthub

about 5 hours ago

XRP's Dominance in Transaction Volume

XRP accounted for 125 billion units on the XRP Ledger between October 2019 and April 2020, averaging 586 million XRP daily. SMQKE’s analysis confirms XRP as the primary currency, countering claims that institutions could bypass it. Payment activity overwhelmingly favors XRP over alternative tokens, with no significant competition in transaction volume.

Concentration Among Top Accounts

The top 10 senders and receivers processed 53% and 50% of total XRP transactions, respectively. Ripple contributed 7% of activity, primarily from monthly escrow releases, though most funds remained unused. Exchanges like Binance led with 15.2 billion XRP sent and 14.5 billion received during the period.

XRP's Comparison to Other Tokens

XRP’s volume far exceeds fiat tokens on the ledger, with USD, EUR, and CNY accounting for 328M, 8M, and 19M units. On-ledger exchange rates aligned with off-ledger values, but transaction volumes for fiat remained minimal. XRP’s liquidity and utility solidify its role as the primary medium of exchange.

Institutional Use and Network Function

SMQKE’s data shows XRP is essential for core payments, with institutions relying on it for settlement and liquidity. Ripple’s strategy centers on XRP, supported by the ledger’s transparency and consistent usage patterns. XRP’s dominance is evident in high-volume accounts, exchanges, and escrow-related flows.