Daily on-chain activity metrics on the XRP Ledger rose alongside preparations for regulatory talks in the United States and infrastructure expansion in South Korea. The number of transactions worth more than $1 million increased by 280%, with monitoring data recording 38 such transfers over 24 hours.
According to on-chain analyst Ali Martinez, citing Santiment, the current surge was preceded by a week of accumulation, during which addresses holding large balances acquired more than 450 million XRP.
This helped push the daily number of active addresses to a two-month high of 50,000.
New XRP banking rails and the White House invite
The increase in on-chain activity coincided with Ripple’s entry into South Korea’s banking market. South Korea’s Jeonbuk Bank announced the integration of the Ripple Payments platform for commercial settlements.
According to the project’s technical specifications, the bank’s cross-border transfers are routed through the XRP Ledger’s internal rails, bypassing the traditional SWIFT interbank system.
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The second factor is the changing regulatory landscape in the United States. A closed-door meeting between Ripple executives, SEC Chair Paul Atkins, and acting CFTC Chairman Michael Selig is being prepared in Washington. The talks are being organized after the Senate postponed its vote on the CLARITY Act until September.
For XRP buyers, Ripple’s direct contact with the heads of the agencies signals an attempt by the administration to implement regulatory rules directly through the relevant commissions without waiting for Congress to act.
Large market participants are using the pause created by the delay to build positions at a lower price before the regulatory framework is formally approved.
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On the spot market, the reaction to the on-chain data and news backdrop has kept the price near a key technical level. At present, XRP is holding the psychological support level of $1.
The combination of supply accumulation by large holders and improving fundamental network metrics is viewed by market participants as a leading signal that XRP’s bullish trend may resume.
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