XRP Ledger (XRPL) experienced a record-breaking busy week, processing over 5.1 million transactions on June 15th.
Unlike other networks that often rely on automated activities to boost numbers, this surge appears to be derived from genuine user demand.
XRP Ledger Continues Expansion
According to blockchain analyst Ripple Van Winkle, users actively contributed to transaction volume through activities such as Non-Fungible Token minting, asset transfers, and decentralized trading.
He mentioned that XRPL processed pressure without interruption, maintaining low transaction fees and stable performance.
This event is notable due to high transaction volume and the network's resilience. According to Van Winkle, XRPL reported no delays, transaction cost spikes, or system strain.
Meanwhile, user engagement across the network also seems to be increasing.
RippleXity, citing glassnode data, reported that XRP wallet registrations have exceeded 7.1 million, with over 2,700 wallets holding more than 1 million XRP.
Market observers stated that these figures indicate that interest in XRP remains strong. They suggest this means the protocol is prepared to support mass adoption without urgent intervention.
"This consistency is crucial as cryptocurrencies mature. Institutions want boring reliability, not flashy experiments. XRPL is starting to look like the TCP/IP of cryptocurrency — invisible but stable and essential." – Van Winkle, Blockchain Analyst
XRP Investors Realize Profits During Altcoin Price Decline
Despite increasing network usage, XRP's price continues to face pressure.
According to BeInCrypto data, the token is trading around $2.07, declining approximately 3% in the past 24 hours and nearly 15% this month.
While this decline disappointed some investors, others see it as an opportunity to lock in profits. Specifically, glassnode data indicates long-term holders have begun realizing gains.
According to the blockchain analysis platform, XRP holders realized an average daily profit of $68.8 million in early June.
Glassnode believes many of these exits come from buyers who entered before XRP's rally in late 2024, when prices surged to a peak of $3.36 in January. The token has now declined over 36% year-to-date, with some whales appearing to sell.
"XRP is trading above $2, which is over three times its base price before the sharp rally in November 2024. Investors who accumulated earlier are seeing profits over 300%." – Glassnode
This may reflect strategic profit-taking but also indicates broader challenges in converting strong fundamentals into sustained price momentum.
Still, some analysts believe XRP could rise again once the current wave of profit-taking subsides. They also note increasing interest in XRPL, especially as stablecoin projects like USDC and tokenized US Treasury bonds begin to be launched on the network.
