XRP rose above $1.60 on September 22, reaching a level not seen since February 4. The price movement coincided with a spike in large transactions, with Santiment counting 1,917 XRP transfers worth at least $100,000—the highest monthly count in roughly a month.
The surge extended an advance that began the previous day, when XRP climbed 8.7% to approximately $1.54 on September 21. During the breakout period, the XRP Ledger added 3,647 new wallet addresses, according to Santiment data.
Multiple Indicators of Network Activity
The simultaneous rise in price, large transfers, and wallet creation reflects increased activity across the network. However, Santiment's transaction count alone does not establish whether large holders were net buyers or sellers, nor do new wallet addresses confirm the number of new users entering the market. New addresses can be created for various reasons, including exchange operations or holders separating funds.
Trading volume on South Korean exchange Upbit also surged, with XRP generating approximately $350 million in volume on September 21—exceeding Bitcoin's roughly $225.8 million on the same exchange.
Stablecoin and ETF Activity
Santiment highlighted XRP Ledger stablecoin balances as part of the network's backdrop, noting roughly $4.26 billion in tokenized-asset holdings. As of September 14, approximately $1.05 billion of Ripple's RLUSD stablecoin was held on the XRP Ledger, compared with roughly $1.37 billion on Ethereum.
U.S. spot XRP ETFs, offered by Bitwise, Franklin Templeton, and Grayscale, added $9.56 million in net inflows during the five trading sessions ending September 18. The funds extended their run of weekly inflows to 10 consecutive weeks, with cumulative net inflows reaching approximately $1.71 billion.
