XRP Ledger: Dominating On-Chain Activity and Outpacing Bitcoin and Ethereum

The XRP Ledger (XRPL) has taken center stage in cryptocurrency markets, showcasing exceptional on-chain activity that surpasses even powerhouse networks like Bitcoin (BTC) and Ethereum (ETH). Recent data analysis reveals that XRPL is not only thriving in its transactional engagement but is also establishing itself as a prime contender for both retail and institutional investments.

Unprecedented XRP On-Chain Activity

According to a detailed report analyzed by The Crypto Basic on September 27, an astounding 84.2% of XRP’s circulating supply has been actively transacted over the past year. This leaves just 15.8% of XRP untouched for more than a year, and an even smaller fraction—4.1%—dormant for over two years. Comparatively, Bitcoin’s circulating supply sees over 20% consistently held in long-term dormancy, positioning XRP well ahead in terms of active wallet utilization.

Comprehensive Study of XRP Ledger Wallets

The study, conducted by XPMarket, examined the behavior of 7,016,000 XRP wallets, focusing exclusively on the circulating supply of XRP, which stands at 64.7 billion tokens. This analysis excluded the 35.3 billion XRP currently locked away in escrow or held in reserve accounts, ensuring that examined data pertained strictly to functional trading activity.

Findings highlight that XRP’s active status stems from unique wallet dynamics. As the report emphasizes, “XRP wallets either tend to remain highly active or quickly become inaccessible.”

XRP’s Activity Versus Market Leaders

In contrast to Bitcoin and Ethereum, XRP demonstrates impressively low inactivity rates. While XRP’s dormancy rate over two years is 4.1%, the competing networks exhibit much higher proportions of non-traded or untouched tokens over similar periods. This stark difference is attributed to XRP’s marketplace behavior, underpinned by high liquidity and rapid transactional movement.

Key Statistics Reflecting Marketplace Performance

1. Annual Wallet Activity: Nearly 50% (49.8%) of all XRP wallets were active over the past year, collectively holding 54.4 billion XRP.
2. Quarterly Transactions: Within the past 90 days, an enormous 49% of the total circulating XRP has been transacted, representing 31.7 billion tokens.
3. Monthly Dynamics: Over a 30-day period, 6.7% of wallets participated in trading, maintaining an average balance of 48,143 XRP.

These metrics underscore the robust market engagement that defines XRP, making it a viable choice for traders seeking liquidity and consistent asset movement.

Whale Activity: A Driving Force

An especially notable factor in the XRPL ecosystem is the behavior of large-scale holders, commonly referred to as “whales.” The data reveals that wallets holding over 1 million XRP—amounting to 2,693 in total—drive the majority of market activity.

Key Insights into Whale Activity:

• High Engagement: A staggering 98.6% of whale wallets showed active transactions in the past year, collectively possessing 39 billion XRP—more than half of the circulating supply.
• Minimal Dormancy: Just 37 whale wallets remained inactive during the same period.
• Inactive Wallet Snapshot: Among all XRP wallets, 308,736 (4.4%) reported no trading history, holding 2.4 billion XRP, or 3.8% of the total supply. These are speculated to include cold storage solutions, lost keys, or extremely long-term holders.

The report highlights this institutional-level activity as a significant indicator of XRPL’s maturing market dynamics.

Institutional Potential of XRP Ledger

Artur Kirjakulov, CEO of XPMarket, points out how XRP’s on-chain activity represents a higher level of reliability and utility. He emphasizes, “The majority of XRP assets, including those held by whales, see active movement. Unlike Bitcoin, XRP has a smaller proportion of potentially lost supply. XRPL has now matured into infrastructure suitable for institutional investment.”

This observation aligns with the evident liquidity, transaction volume, and network reliability that XRP Ledger offers. XRPL’s clear differentiation from Bitcoin’s hoarding tendencies or Ethereum’s technical bottlenecks promotes wider adoption potential across enterprise markets.

Final Takeaway: XRP's Strategic Position in the Cryptocurrency Ecosystem

The XRP Ledger has firmly established itself as a leader in on-chain transactions, eclipsing traditional frontrunners like Bitcoin and Ethereum. The data illustrating its wallet activity, low dormancy rates, and significant institutional appeal signal XRPL’s transition into a more mature infrastructure.

For both retail traders and institutional investors, XRP offers an ecosystem marked by speed, efficiency, and liquidity, creating a dynamic marketplace poised for continued growth and adoption. With its strong metrics and whale-driven market dynamics, XRP Ledger is well-positioned to propel the next stage of cryptocurrency evolution.