Activity Surge on the XRP Ledger

Activity on the XRP Ledger, XRP’s native network, has surged substantially over the past few months, spurred by growing adoption and bullish macroeconomic factors.

With XRP and Ripple incessantly in the spotlight, the XRPL network has benefited from the renewed traction. This growing adoption has seen the activities on the blockchain surge extensively since the start of last year.

Recent data from Mayukha Vadari, a senior software engineer at RippleX, has identified the upward trajectory in the activities on the XRPL network. The chart shows an impressive 24% growth in accounts on the blockchain and surging trustlines.

XRPL Ledger Benefits from Growing Traction

A chart accompanying Vadari’s data further highlights the growing adoption evident in the XRPL network. It identified two metrics that have risen since the start of last year: accounts and trustlines.

According to the chart, accounts on the XRP Ledger surged over 24% from their value in January 2024. Starting at approximately 5 million, the number of accounts on the Ripple-affiliated blockchain has maintained a steady growth pace, nearing 6.2 million this month.

XRP Ledger Activity Over Time

This notable growth highlights the network’s spreading adoption and utility. Recall that the account reserve on the XRP Ledger dropped 90% from 10 XRP to 1 XRP in December, contributing to increased user deployment.

Meanwhile, the XRPL trustline, a feature that allows users to determine which assets they are willing to hold, has also surged alongside the number of accounts.

Catalysts for Growing Adoption

Several factors have contributed to XRP Ledger’s surging utility, including XRP’s rising price and institutional interest. For context, XRP surged over 500% in November following Donald Trump’s win.

The bullish momentum continued until January, when XRP recorded its highest close in history. Although prices have retreated, the adoption of the XRPL network has not slowed down. The rise in meme coin activity has also significantly contributed to the spike in XRPL accounts and trustlines.

Furthermore, institutional traction towards the XRP ecosystem has grown following increasing chances of regulatory clarity after years of litigation with the SEC. This optimism has spurred exchange-traded fund (ETF) applications from several asset managers, boosting XRP and the XRP Ledger further.

Other bullish developments, such as the official launch of the Ripple USD (RLUSD) stablecoin and strategic partnerships with major financial institutions, have greatly contributed to the growing activities on the XRP Ledger.