Ripple's XRP Ledger Sees Surge in Activity Amid Bearish Sentiment

XRP's on-chain activity spiked in August as its price rose by +42% over the past seven days to $1.43, according to CoinGecko data.

The average daily active addresses on the XRP Ledger increased by +35% month-over-month to approximately 35,700, up from about 26,400 in July, while new-address creation remained largely stagnant.

This trend is unusual as rising active addresses typically indicate an influx of fresh capital into the ecosystem. However, experts suggest that it may instead reflect existing users transacting more often rather than new participants entering the market.

A separate report found that XRP Ledger activity hit a two-month high on August 14 with 49,929 active addresses in a single 24-hour period, even as social-media sentiment toward XRP reached its most bearish reading in three months. Network usage and crowd mood were moving in opposite directions.