XRP Network Sees Explosive Growth in Active Addresses
The XRP network has seen a significant surge in active addresses, increasing by over 650% between August 10 and August 24. According to data from Santiment, the number of active addresses on the network grew from 47,180 to 356,070, with a total increase of 308,890 addresses in just 14 days.
This explosive growth in active addresses has coincided with XRP's price surge, which has risen by nearly 50% over the past seven days. The token's market capitalization reached $93.8 billion on August 25, with its on-chain activity skyrocketing as a result of renewed demand.
The increased demand can be attributed to growth in Artificial Intelligence (AI) agent transactions and spot Exchange-Traded Funds (ETFs). For instance, the XRP Ledger (XRPL) network recorded 5,355.43 tokens settled through AI agent transactions at press time, up 38% in 30 days.
Additionally, United States' spot XRP ETFs have seen only one week of cash outflow since July 1, attracting $95.65 million between the first day of July and August 24, currently holding $1.44 billion at the time of publication.