XRP Network Activity Jumps 84% Amid Price Decline
XRP network activity has seen an impressive surge of 84% since August 1, as large wallet holders quietly accumulated during the price decline. Despite this increase in on-chain activity, XRP ETFs have seen zero inflows for the first time in weeks.
Analyst Ali Martinez noted that active XRP addresses climbed from 23,642 to 43,543 since August 1, a significant jump in network activity that contradicts the bearish price narrative. The XRP Ledger's million-XRP wallet cohort added 32 wallets over the past three months despite a 29% market cap decline.
Santiment attributed this accumulation to stronger hands absorbing panic selling rather than joining it. The firm also pointed out that Ripple's payments, custody, and tokenization infrastructure are keeping the XRP Ledger tied to real settlement use cases.