XRP on-chain activity increased sharply in August, while the token traded 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 about 35,700, up from roughly 26,400 in July. At the same time, new-address creation changed little.

The XRPL data came as XRP exchange-traded funds recorded $23 million in inflows, their largest daily intake in August. Total net inflows for these ETFs since their launch in November 2025 have reached $1.51 billion, according to 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

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 Rise 35% While New Addresses Barely Change

Market analyst Xaif Crypto highlighted the divergence in a post on X, saying XRP’s daily active addresses climbed 35% in August while new addresses remained nearly flat at about 2,260 per day.

Active addresses measure wallets that send or receive XRP during a given period. New addresses count wallets created for the first time. When active addresses rise without a corresponding increase in new addresses, the pattern usually suggests that existing holders are transacting more often rather than new participants entering the network.

( SOURCE: DefiLlama )

That distinction matters when reading XRPL activity as a sign of adoption, because higher usage can reflect XRP being traded, transferred between exchanges, or used within XRP Ledger applications, none of which requires a new user. In other words, stronger network metrics do not automatically mean broader retail or developer participation.

Santiment data cited in the original report also showed that wallets holding at least 1 million XRP increased by 32% over the past three months, even as XRP’s market capitalization declined.

The combination of whale accumulation, falling market cap, and flat new-user growth points to more activity from existing users, heavier buying from large holders, and limited fresh participation in the ecosystem.

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How This Fits Into the XRP Ledger’s Longer-Term Pattern

XRPL has been moving differently from the broader stablecoin market. While stablecoins across platforms have been contracting, stablecoin supply on the ledger has continued to expand. RLUSD outstanding is up 39% since May 20, to $934 million. Across platforms, there are about 6% fewer stablecoins in circulation than in May, according to the cited report.

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

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 move. Another Santiment-sourced report said XRP Ledger activity reached 49,929 active addresses in a single 24-hour period on August 14, a two-month high, even as social-media sentiment toward XRP fell to its most bearish reading in three months. In other words, network usage and crowd mood moved 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. Even so, average daily active addresses fell to about 16,800, down 10.7% from the previous quarter.

The same report said new addresses averaged about 2,380 per day in the quarter, a 22% drop from the prior quarter, while returning addresses declined only 8.4%. That suggests existing users have remained much more active than new users across multiple quarters, not just in August.

Ripple has continued to position the XRP Ledger for institutional use cases that could eventually broaden participation, including recent amendments 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 possible catalyst to watch. However, it remains a potential development rather than a confirmed driver of current network activity.

So far, none of these developments has translated into meaningful new-address growth.