XRP Ledger Activity Soars as Whale Wallets Hit All-Time High

The number of daily active addresses on the XRP Ledger (XRPL) has skyrocketed—surging 7x in under four months—indicating growing interest from both retail users and institutional investors.

According to on-chain data from Santiment, XRPL recorded as many as 295,000 daily active addresses in the past week, compared to an average of just 35,000–40,000 over the previous three months. This sharp rise signals a new wave of user engagement on the network.

It’s not just retail activity that’s rising—the number of whale wallets holding at least 1 million XRP has reached an all-time high of 2,708. This is the first time in XRP’s 12-year history that such a large number of wallets have held so much XRP, equivalent to roughly $2.25 million per wallet.

Several key factors are fueling this momentum, from technical upgrades to a series of high-profile institutional partnerships. Ripple has recently secured strategic collaborations with major players like Circle—bringing USDC to the network—and Ondo Finance, which is tokenizing U.S. securities on XRPL. One of the biggest developments is Ripple’s partnership with financial giant Guggenheim to launch digital commercial paper on the XRP Ledger—a move legal experts are calling a major win for the ecosystem.

Ripple is also preparing a new network upgrade, with CTO David Schwartz proposing a fee structure revision to make XRPL more competitive with Ethereum in terms of scalability and transaction costs.

At the XRPL Apex 2025 event in Singapore, Ripple CEO Brad Garlinghouse projected that XRPL could capture up to 14% of global liquidity currently handled by SWIFT within the next five years. He cited XRPL’s rapid growth and robust cross-border payment infrastructure as key advantages.

Adding to the optimism, speculation is building that the U.S. Securities and Exchange Commission (SEC) may soon grant regulatory approval for XRP—a potential catalyst that could further boost the network’s growth.