Large transactions of more than $1 million on the XRP Ledger totalled 38 over 24 hours, up 280 percent. U.Today reported on Aug. 18 that the increase in on-chain activity came as U.S. regulatory discussions coincided with moves to expand financial infrastructure in South Korea.

Ali Martinez (알리 마르티네스), citing Santiment data, said large-holder addresses accumulated more than 450 million XRP over the past week. Daily active addresses rose to 50,000, marking the highest level in two months.

Ripple’s entry into South Korea’s banking sector also progressed at the same time. Jeonbuk Bank said it will integrate the Ripple Payments platform for commercial payments. According to the technical specifications, Jeonbuk Bank’s cross-border remittances are processed through internal rails on the XRP Ledger, without going through the existing SWIFT interbank system.

In the United States, preparations are under way for a closed-door meeting between Ripple executives, SEC Chairman Paul Atkins and acting CFTC Chairman Michael Selig. The schedule moved forward after the U.S. Senate delayed a vote on the Clarity bill to September.

In the spot market, the price of XRP is holding near the psychological support level of $1. As large holders accumulate and network indicators improve, the market is watching for a possible resumption of an uptrend in XRP.