XRP transactions rise sharply while user growth stays flat, pointing to higher activity per account.
Activity on the XRP Ledger is rising even as the XRP price remains under pressure. Daily transaction counts have increased sharply in recent weeks. On-chain data shows network usage expanding while price trades below key resistance levels. That divergence is drawing attention to underlying ledger demand.
XRP Ledger Sees Strong Throughput Expansion Amid Technical Weakness
Daily successful transactions have climbed about 40% from recent lows, reaching nearly 2.5 million. Activity now stands near the highest level recorded in the past year. Mid-last year, transaction counts remained within a narrow range of 1.3 million to 1.8 million per day.
🚨 Daily successful transactions on the XRP Ledger just surged ~40% to nearly 2.5M, signaling real network activity is climbing even while $XRP price still trades below key moving averages 📊 pic.twitter.com/emvFPRLK63
— DustyBC Crypto (@TheDustyBC) February 22, 2026
A slowdown in the second and third quarters pushed daily volume closer to 1.0–1.2 million. Momentum began to recover in late Q4 as activity stabilized and turned higher. February 2026 has now printed near the top of the one-year range, confirming a clear breakout in throughput.
However, XRP continues to trade below major moving averages and remains well under previous highs near $3. Network usage, however, is expanding instead of weakening. Such divergence suggests transaction growth is not being driven by short-term speculation.
Transactions Climb, But Retail Participation Remains Muted
Participation metrics add nuance to recent transaction growth. New address creation has stayed relatively stable throughout the past year. Meanwhile, daily wallet additions have averaged roughly 3,000 to 5,000 accounts.Â
Image Source: The Block
Notably, sharp spikes in wallet additions above 10,000 to 15,000 appeared in November and February. Even so, a sustained upward expansion in baseline growth has yet to materialize.
During previous cycle peaks, daily active accounts exceeded 100,000 during strong rallies. The current figures hover closer to 15,000 to 25,000 per day. And retail-driven onboarding does not appear to be driving current throughput.
Image Source: CryptoQuant
Rising transaction counts with stable user growth suggest higher activity per account. Basically, existing participants are sending more transactions rather than a large wave of new users entering the network. That pattern can reflect increased application usage, automated flows, or institutional transfers.
Stronger ledger throughput while the price remains subdued points to usage that is not purely price-driven. Sustained activity above 2 million daily transactions would reinforce the view that underlying demand is building.