The XRP Ledger (XRPL) is experiencing an unprecedented surge in on-chain activity, with key metrics reaching all-time highs in 2026. This growth is characterized by a massive spike in AccountSet transactions, which recently climbed past 120,000. These transactions are not simple transfers but are used to configure account settings, set permissions, link identity domains, and prepare accounts for advanced features, indicating significant backend infrastructure development.
This specific activity spike is part of a broader explosion in ledger usage. Daily transaction volume on the XRPL has surged to nearly 3 million, a near-tripling from the approximately 1 million transactions per day recorded in mid-2025. Data from Evernorth, the largest public XRP treasury company, shows monthly averages moved past 1 million early in 2026, with consistent high-volume days above 3 million now becoming the norm.
Furthermore, the network's total non-empty wallet count has breached a 13-year record, crossing above 7.7 million addresses. The ledger's payment volume is also approaching the $1 billion threshold, with frequent spikes in payment activity over the past month suggesting sustained utilization.
A notable disconnect exists between this booming network activity and the XRP token's price, which remains well below its 2025 peak of $3.65 and was recently trading in the mid-$1.40 range. Analysts point to this divergence as a key market focus. Zach Pandl, Head of Research at Grayscale Investments, suggests that regulatory clarity, specifically the passage of the CLARITY Act, could be the catalyst needed for an anticipated repricing of XRP to align with its growing fundamental usage.
