XRP (CRYPTO: XRP) remains in a downtrend, but positive signals from tokenized asset growth and on-chain scarcity signal sound network fundamentals.

Real-World Asset Demand Surges

Around $4 billion in tokenized real-world assets now sit on the XRP Ledger, according to market commentary shared by crypto researchers at EvernorthXRP in an X post on July 6.

This is almost four times the size of XRP’s spot ETF market.

Institutional use cases are also beginning to emerge.

Earlier this year, a tokenized Treasury redemption involving JPMorgan, Ondo and Mastercard reportedly settled on the XRP Ledger in about four seconds.

Spot XRP ETFs have also recorded eight straight weeks of net inflows, including about $23 million in the last full week of June and roughly $1.47 billion cumulatively.

Meanwhile, crypto researcher BankXRP noted that new XRP wallets climbed to 26,000 in the last full week of June, the highest weekly count since March and a 40% increase from the prior week.

"On-chain adoption doesn’t lie," the research said, asking whether XRP is in an accumulation phase or if "something bigger" is developing.

Binance XRP Scarcity Index Hits 1-Year High

In an X post on July 6, CryptoQuant data shows the Binance XRP Scarcity Index rose to roughly 0.77 over the past three days, its highest level since mid-2024, while XRP traded near $1.10.

The increase suggests XRP availability on Binance has declined compared with previous periods, potentially due to lower deposits, higher withdrawals or more tokens moving into off-exchange holdings.

A rising scarcity index can point to reduced potential selling pressure, since fewer tokens are available for sale on the platform.

However, CryptoQuant noted that scarcity alone does not guarantee continued upside.

The key factor will be whether demand strengthens while exchange supply remains constrained.

Together, tokenized asset growth, ETF inflows, new wallets and shrinking Binance availability suggest XRP demand is appearing across multiple channels at the same time.

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