The XRP Ledger (XRPL) is experiencing a sharp uptick in network activity, spurred by increased user involvement and mounting institutional engagement. Over the past week, XRPL has averaged 295,000 daily interacting addresses. This is more than seven times higher than its previous three-month average of 35,000 to 40,000.

Data from blockchain analytics firm Santiment shows the rise has been steady throughout the week, indicating growing interest in the ledger’s ecosystem. The consistent increase suggests a wider range of users, including both individuals and large entities, are now interacting with the XRPL infrastructure.

The XRP ledger is showing serious signs of growth, from both a usage and key stakeholder perspective.

The amount of interacting $XRP addresses has averaged over 295K per day over the past week. Its normal daily average over the past 3 months was approximately 35-40K.

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Whale Wallets Take Center Stage

One clear sign of increased activity on the XRP Ledger is the surge in high-value accounts. For the first time in its 12-year history, 2,708 wallets now hold over 1 million XRP each. These “whale” and “shark” addresses often belong to institutional players or large-scale holders with long-term plans.

Notably, this rise in large holdings points to stronger institutional positioning on the network. The growing concentration of XRP in major wallets signals rising institutional confidence. This trend could strengthen liquidity dynamics and streamline value transfers across the network.

The trend is further supported by growing enterprise interest in XRPL. For example, asset manager Guggenheim recently introduced digital commercial paper on the network, highlighting its expanding role in traditional finance. Likewise, Circle’s USDC stablecoin launched on XRPL, enhancing its liquidity and transactional utility.

These moves align with Ripple’s broader strategy to expand cross-border payment corridors and secure regulatory clarity. As the network matures, institutions may be positioning themselves early to leverage XRPL’s evolving infrastructure.

Markets React to On-Chain Momentum

On the price front, XRP is starting to reflect the buzz. The token moved between $2.10 and $2.32 over the past week and currently trades at $2.22, up 1.9% in the last 24 hours.

Market activity around XRP has also intensified. Daily trading volume jumped by 245%, likely as market participants reacted to the on-chain momentum. Meanwhile, data from Coinglass shows open interest has risen 3% to $4.02 billion, while derivatives volume has nearly quadrupled to $9.80 billion.