XRP's circulating market capitalization and price both decreased by over 10% in Q2, but its year-to-date market cap remained up due to a rise in Q1. The Ripple vs. SEC lawsuit had an impact on XRP's price, with a revenue spike occurring in June. XRPL's network activity metrics declined in Q2, but the NFT ecosystem saw growth.

XRP's Q3 started with a price decline and decrease in trading volume, but there are signs of recovery.