XRP Ledger (XRPL) [Photo: Shutterstock]

[DigitalToday reporter Yoonseo Lee] Network activity is expanding rapidly as transactions per ledger on the XRP Ledger (XRP Ledger) rise 150.2 percent.

U.Today, a blockchain media outlet, reported on Saturday local time that the average number of transactions recorded on a single ledger was about 176.33. The figure shows the volume of transactions processed each time a ledger is created.

Successful transactions rose 111.8 percent to 2.2 million, and total transactions increased 78.9 percent to 2.6 million. Payments also rose 8.9 percent to about 605,400. With multiple activity indicators improving at the same time, the rise in transactions per ledger is seen as reflecting broader growth in network use rather than a temporary fluctuation.

User-related indicators also jumped. Active users surged 224 percent to about 483,600, and active accounts increased 27.7 percent to 17,300. About 2,600 new accounts were opened, up 28 percent. Indicators that can gauge whether actual users are flowing into the network improved at the same time.

The scale of fund transfers also expanded. XRP burned as fees rose 81.3 percent, and payment volume increased 140.8 percent to about 739.8 million XRP.

Decentralised exchange (DEX) activity also strengthened. OfferCancel operations, which correspond to order cancellations, rose 150.8 percent to 222,300, while OfferCreate operations for order creation increased 56.2 percent to about 965,700. This suggests participation in XRPL’s own trading infrastructure has increased.

The rise in transactions per ledger does not so much mean the network’s processing performance itself has improved as it means more transactions are being packed into each regular ledger-creation cycle. As payments, account creation and DEX orders increase at the same time, network usage density is seen as having increased.

The rise in transactions cannot be viewed entirely as actual demand from new users. That is because DEX operations such as OfferCreate and OfferCancel can include repeated orders by market makers or automated programs. Whether payments, new accounts and active accounts stay at high levels is expected to be a key indicator for judging the durability of the uptrend.

XRP traded at about $1.51 after quickly breaking above key moving averages, and it also moved above the long-term moving average of $1.35 amid rising volume. The daily relative strength index (RSI) climbed to about 85.9, entering overbought territory. That raises the possibility of a short-term pause or retest.

The market is focusing on the fact that the price rebound is accompanied by an increase in actual ledger use. If transaction density and the number of active users remain high even after the initial price breakout, the move is likely to become a test of whether it goes beyond speculative trading.

Keyword

#XRP #XRP Ledger #XRPL #OfferCreate #OfferCancel
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