On-chain activity on the XRP Ledger has recently seen a significant surge. Data shows that the network's daily transaction volume has soared to nearly 3 million, nearly tripling from the average of around 1 million per day in mid-2025. Meanwhile, the total number of non-empty wallet addresses has exceeded 7.7 million, reaching a new high in the network's 13-year history.
Against the backdrop of the overall transaction surge, the AccountSet transaction type, used for configuring account permissions, operation flags, and other backend settings, has been particularly prominent. Its volume recently surpassed 120,000, setting a historical record. Such a surge in this type of transaction typically points to the construction of underlying infrastructure and batch account setups, rather than ordinary asset transfers.
Despite the active on-chain activity, the price of XRP tokens remains far below its 2025 high of $3.65. Zach Pandl, Head of Research at Grayscale Investments, noted that regulatory clarity, particularly the passage of the CLARITY Act, could be a key factor driving the revaluation of XRP's value. The current divergence between on-chain data and token price performance has become a focal point of market attention.