XRP Ripple Ledger Gets Busier Without Attracting New Users
XRP Ripple on-chain activity jumped sharply in August, while the token sits near $1.43, up +42% over the past seven days, according to CoinGecko data.
Average daily active addresses on the XRP Ledger rose +35% month over month to roughly 35,700, up from about 26,400 in July, while new-address creation barely moved at all.
This XRPL data drop comes as XRP ETFs saw $23m in inflows, its largest daily intake in August. Total net inflows for these ETFs since their launch in November 2025 total $1.51Bn, per CoinGlass data.
XRP Ledger's stablecoin economy WILL NOT STOP GROWING!
After reported major growth last week, $XRPL's stablecoin supply is up +14.3% at time of writing, over the past week.@Ripple's $XRP Ledger now boasts around $1.2 billion in stables hosted on its chain, and is the 12th… pic.twitter.com/nXxh6ER0aw
— BSCN (@BSCNews) August 24, 2026
Active Addresses Up 35%, New Addresses Barely Move
Market analyst Xaif Crypto highlighted the split in a post on X, noting that XRP’s daily active addresses climbed 35% in August while new addresses held nearly flat at around 2,260 per day.
Active addresses count wallets that send or receive XRP within a given window; new addresses count wallets created for the first time. When the first metric rises without the second, it typically means existing holders are transacting more often rather than fresh capital entering the ecosystem.
That distinction matters for anyone reading network-activity charts as a bullish signal. Rising active addresses can reflect XRP being traded, shuffled between exchanges, or used inside XRP Ledger applications, none of which require a new participant.
Large holders are behaving differently than the broader address count suggests. Data from Santiment, cited in the original reporting, shows that wallets holding at least 1 million XRP grew by 32% over the past three months, even as XRP’s market capitalization declined.
That combination, whale accumulation alongside a falling market cap and flat new-user growth, is an unusual setup: existing users transacting more, whales buying weakness, and almost no fresh participants entering behind them.
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How Does This Fit the XRP Ripple Ledger’s Longer-Term Pattern?
XRPL has been bucking the trend. While stablecoins across platforms have been contracting, they’ve been growing on the ledger.
RLUSD outstanding is up 39% since May 20, to $934M. Across platforms, there are about 6% fewer stablecoins in circulation than in May when things… pic.twitter.com/M5v1s4cCc8
— evernorthxrp (@evernorthxrp) August 25, 2026
The August split is not an isolated blip. A separate Santiment-sourced report found that XRP Ledger activity hit 49,929 active addresses in a single 24-hour period on August 14, a two-month high, even as social-media sentiment toward XRP hit its most bearish reading in three months. Network usage and crowd mood were moving in opposite directions.
A Blockworks “State of XRP” report, cited by The Crypto Basic, found that the XRP Ledger processed 222.4 million transactions in the second quarter of 2026, the second-highest quarterly total on record, yet average daily active addresses fell to about 16,800, down 10.7% from the prior quarter.
New addresses averaged roughly 2,380 per day in that quarter, a 22% quarterly drop, while returning addresses fell only 8.4%. Existing users have proven far stickier than new ones across multiple quarters, not just this one month.
Ripple has kept pushing the XRP Ledger toward institutional use cases that could eventually broaden its base, including recent amendments to the XRP Ledger tied to tokenized assets and payment integrations, such as Jeonbuk Bank’s Ripple-powered payments rollout.
Rakuten’s rewards integration, which reportedly exposes more than 100 million Japanese users to XRP-denominated spending, is another potential catalyst worth watching, though it remains a possibility rather than a confirmed driver of the current network-activity picture. None of it has translated into new-address growth yet.
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