Headline: XRP Ledger Activity Explodes — Daily Transactions Near 3 Million While Price Lingers Around $1.40
The XRP Ledger is seeing a dramatic surge in on-chain activity: daily transaction volume has climbed to nearly 3 million this week, roughly three times the ~1 million transactions per day the network averaged in mid-2025. The data come from Evernorth — the largest public XRP treasury company — using XRPScan metrics shared on X.
What the numbers show
- Peak daily activity in March has reached about 3 million transactions.
- February 2026 posted the strongest monthly average in the data window, at roughly 1.3 million daily transactions, up from about 800,000 in May 2025.
- Monthly averages were in the 800k–950k range from May to August 2025, dropped to around 700k (with some days below that in June and July), saw a modest Q4 2025 rebound, then dipped again toward year-end.
- Activity accelerated again in early 2026: monthly averages topped 1 million in January, and daily transactions moved above 2.7 million in March.
Why it matters
The XRP Ledger’s current throughput is among the busiest periods in its history, signaling increased network utility and usage. But that on-chain momentum has not (yet) translated into a sustained price rally: XRP is still trading in a relatively narrow band near $1.40.
Institutional demand and regulatory questions
Industry observers point to growing institutional interest in XRP as a potential driver of future price moves. In an interview with Paul Barron, Zach Pandl, Head of Research at Grayscale Investments, noted products tied to XRP are already drawing heavy investor demand. He said greater regulatory clarity in the U.S., particularly around legislation like the CLARITY Act, could materially affect valuations across crypto assets — including XRP — and that clarity on long-term token supply dynamics could boost its value.
Evernorth’s role
Evernorth — which disclosed a $1 billion valuation in October 2025 tied to a plan to accumulate XRP as a corporate treasury reserve — exemplifies institutional activity in the space. Unlike firms that simply hold crypto as a reserve, Evernorth aims to increase XRP-per-share over time by participating in institutional lending and other DeFi activities.
Bottom line
On-chain activity on the XRP Ledger is surging to multi-million daily transactions, even as price action remains subdued. Whether regulatory clarity and continued institutional adoption close that gap and spark a sustained repricing of XRP will be a key story to watch.
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