The XRP Ledger ended the week through Nov. 13 with a smaller stablecoin pool but busier decentralized-exchange trading, a split that shows activity accelerated without proving more capital entered the network.

The ledger’s tracked stablecoin value was $908.21 million on Nov. 13, down 8.01% from seven days earlier. Reversing the reported percentage gives an estimated earlier balance of $987.29 million, a difference of about $79.08 million. Those calculations use rounded figures; the decline is not a separately reported withdrawal total.

Ripple USD (RLUSD) accounted for $818.56 million, or 90.13% of the total, after falling 8.75% during the week. The figures imply a reduction of about $78.49 million in the RLUSD value tracked on XRPL. They do not establish a corresponding change in RLUSD’s supply on other supported networks.

Decentralized exchange (DEX) volume reached $35.14 million over seven days, up 28.87%. Applying that increase gives an estimated prior-week total of $27.27 million, a gain of about $7.87 million. DEX volume over the latest 24 hours was $5.76 million.

The latest balance is below the more than $1 billion stablecoin float on XRPL in Q3. That comparison sets the weekly snapshot against an earlier quarter’s level, but does not explain the change between them.

The figures measure different things. Stablecoin value is the amount recorded at a point in time, while DEX volume totals trades over a period. The same funds can be traded repeatedly, so volume can rise as the stablecoin balance falls, without new capital entering the ledger.

The readings do not identify whether the stablecoin decline came from redemptions, movement to other networks or another supply change. Higher DEX volume also does not show that traders bought more XRP: the total counts trades without indicating whether buying or selling dominated.

Enna Lee

Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to [email protected].