XRP Ledger Activity Jumps 191%, but Payment Volume Falls 89%

XRP Ledger activity is flashing unusually large moves across several network indicators, but the latest data presents a far more complicated picture than a broad surge in adoption. Transactions processed per ledger climbed 191.3% to 191.68, while another activity metric rose 211% to roughly 498,200. Payments increased about 5% to 540,700. Those gains, however, came alongside steep declines elsewhere, including an 89.2% drop in total payment volume, which fell to approximately 45.2 million XRP.

XRPL Data Shows Concentration, Not Growth

Total transactions fell 42.7% to roughly 771,300, successful transactions declined 31.3% to about 697,300, and newly created accounts dropped 85.2% to 340. Active accounts were down 73.1% to around 3,800. Total XRPL payment volume falling 89.2% to roughly 45.2 million XRP matters because a separately cited 103% volume increase refers to XRP market trading volume, not payment volume moving across the ledger itself.

Taken together, the figures suggest activity is becoming more concentrated rather than every part of the network expanding at once. Transactions per ledger measure how much activity is included in each closed ledger, so a sharp increase there can coexist with declines in overall transactions, accounts or value transferred. That distinction matters after a volatile August: payment volume briefly exceeded 600 million XRP earlier in the month before dropping roughly 90%, showing how quickly individual metrics can swing. The latest figures should not be read as evidence that XRPL usage broadly increased by 200%.

One area of genuine longer-term growth is Ripple’s RLUSD stablecoin, whose ledger activity increased 224% during 2026, according to data highlighted by Evernorth.

ETF Inflows Send a Separate Bullish Signal

The stronger financial-market signal is currently coming from outside the ledger itself. U.S. spot XRP ETFs attracted $110.49 million during the week ending Aug. 28, their strongest weekly inflow of 2026. Cumulative net inflows have reached roughly $1.66 billion, with total net assets near $1.44 billion.

Those flows followed a sharp August rally in which XRP gained 43.7% over seven days at one stage, outperforming other top-10 cryptocurrencies as Korean spot demand and ETF buying strengthened. XRP has since cooled toward the $1.35 to $1.40 region. Technical attention centers on roughly $1.35, near the token’s 200-day moving average, while $1.45 to $1.50 marks the next resistance zone.

Key figures behind the divergence:

• Payment volume fell 89.2% to about 45.2 million XRP
• XRP ETFs pulled in $110.49 million, the strongest week of 2026
• RLUSD ledger activity rose 224% during 2026

Conclusion: Two Signals for September

XRP enters September with two conflicting signals: institutional ETF demand remains unusually strong, while XRP Ledger activity is producing sharp but contradictory changes. Rather than confirming straightforward network-wide expansion, the latest numbers show why individual blockchain metrics need to be read separately from one another. For XRP markets, defending the $1.35 support level while ETF demand stays elevated may offer a clearer near-term signal than the headline percentage jumps alone.