The number of daily active addresses on the XRP network spiked to 295,000, or an 800% rise in comparison to the previous 90-day average.
The number of wallets containing more than one million XRP also hit a new high as 2,708 entities were discovered, including the participation of large-scale investors.
On-chain growth and large-wallet accumulation are rising simultaneously, highlighting potential preparation for a broader market shift.
The XRP Ledger has entered one of its most active phases in over a decade. According to recent data from Santiment, the number of daily unique wallets on the network rose sharply to an average of 295,000 this past week. This marks a steep increase compared to its previous 90-day average, which ranged between 35,000 and 40,000 daily addresses.
Alongside this spike in daily usage, the number of wallets holding over one million XRP tokens has climbed to 2,708. Based on current pricing, these wallets hold at least $2.25 million each. This is the highest level of large-wallet accumulation recorded in the XRP network’s history.
Increased Network Use and Accumulation Happening Together
Both user activity and whale wallet growth are rising simultaneously, a pattern rarely seen. Typically, one metric leads the other. In this case, both are moving upward in tandem, pointing to a broader shift in market participation. This dual growth trend is driving attention back to XRP and may indicate a more sustained accumulation phase.
The growth in network use and large holdings may be influenced by expectations surrounding Ripple’s ongoing legal matters with the SEC. Recent filings indicate a mutual desire from Ripple and the SEC to keep appeals on hold. These developments could be contributing to renewed confidence among institutional participants and large investors.
Price Action Lags Behind On-Chain Metrics
Despite the uptick in network engagement and whale activity, XRP’s price remains relatively steady at $2.20. This figure is higher than earlier this year but has not yet matched the scale of the on-chain changes. Analysts are watching closely to see if price movement will catch up to the network's rising activity levels.
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