The XRP Ledger has now processed more than 5.06 billion validated transactions, but a closer look at August data shows that this milestone is heavily shaped by automated accounts rather than broad retail participation. According to Bitquery, 793 sender accounts produced 75.98 million of XRPL’s 81.56 million transactions in August, or 93.2% of all activity. Of those senders, 767 were classified as machines and were responsible for 92% of the month’s transactions, while 26 exchange hot wallets contributed another 1.1%. One address alone generated almost 13 million transactions, including 12.79 million decentralized-exchange orders, only 882 of which resulted in trades. That single account accounted for roughly one-sixth of everything XRPL processed during the month.
The concentration is visible across the ledger’s activity profile. Bitquery counted 2.97 million settled trades on XRPL’s built-in exchange from 12,153 accounts, a small fraction of more than 81 million total transactions. DEX order bots generated 39.25 million transactions, or 48.1% of August traffic, while dust-spraying accounts contributed another 18.79 million. Nearly half of active accounts sent a single transaction, and four-fifths sent five or fewer. A lower-frequency filter that excluded dust-level transfers captured 89.6% of transacting accounts but only 0.8% of total ledger activity.
Evernorth Research data adds nuance. XRPL order-book trading volume rose 79% year over year in the second quarter even as the number of accounts initiating those trades fell about 40%. Daily order-book activity averaged 3.57 million XRP, up from roughly 2 million XRP a year earlier, while the average number of trading accounts fell from 1,864 to 1,111. That pushed average volume per trading account from 1,072 XRP to 3,217 XRP. Across the broader XRPL DEX, trading averaged 4.42 million XRP per day, about 20% higher year over year, with roughly 2,435 accounts trading daily. Evernorth said the pattern is consistent with professional flow taking a larger share of activity as XRPL adds institution-facing infrastructure.
Capital on the network also expanded. Average value held on XRPL reached $4.26 billion in the second quarter, the highest level in Evernorth’s six-quarter series. RLUSD balances averaged $539 million, up 642% from a year earlier, and value moved through the stablecoin rose 925%. At the same time, daily transacting accounts averaged 16,587 and new accounts averaged 2,783, both down about 25% year over year. Evernorth noted that account counts tend to be more sensitive to retail activity, which retreated across crypto markets during the quarter.
Separate 24-hour network data points to a similar divergence. XRP Ledger payment volume rose 26% to roughly 462.9 million XRP, more than $620 million in nominal value at XRP’s price near $1.34. Accounts created increased 8.8% to 2,300, and active accounts rose 1.3% to 14,500. Transaction fees burned climbed 8.5% to 277.4 XRP, while the network maintained 20,500 closed ledgers and an average ledger interval of 3.87 seconds. However, active users fell 22.4% to 151,500, meaning significantly more XRP moved through payments even as the overall number of network participants declined.
Price action remains cautious. XRP is trading around $1.34 after failing multiple times to hold above the $1.40–$1.45 area, following an August breakout from below $1.00 to near $1.70. Key support sits near $1.335, with a longer-term moving average around $1.355. A loss of the $1.33–$1.35 zone could open the door to the next major support near $1.245. The daily RSI is near 51 and the signal average is about 60, indicating momentum has weakened. For XRP, the commercial question is increasingly whether concentrated automated activity will settle into trades, payments, and liquidity that require meaningful XRP balances, rather than simply adding to headline transaction counts.
