Key facts
- The XRP Ledger recorded 11,432 new accounts on September 24, 2026, significantly above the 30-day average of 2,700-3,000.
- XRP's price rose to $1.60 with $7.4 billion in volume on September 24, 2026.
- CME leveraged funds reduced net short positions by 46.3 million XRP.
- Santiment data showed 3,647 new wallets and 1,917 whale transactions above $100,000 around the $1.60 price breakout.
- Upcoming XRP Ledger upgrades, Batch V1.1 and PermissionDelegationV1_1, aim to simplify institutional treasury management and compliance.
- Binance launched an $800,000 XRP rewards program for RLUSD holders on September 25, 2026.
The XRP Ledger experienced a significant surge in new account creations on September 24, 2026, with 11,432 accounts activated. This figure represents more than a threefold increase compared to the 30-day average of approximately 2,700 to 3,000 new accounts. The spike in activity coincided with XRP's price climbing from $1.40 to $1.60, accompanied by a substantial trading volume of $7.4 billion. This confluence of events drew immediate attention from traders and on-chain analysts monitoring the network.
While the number of new accounts is confirmed by XRPScan, the underlying reasons for the sudden increase remain under scrutiny. Potential drivers include exchange batch funding, custody migrations, airdrop farming, and speculative wallet splitting. The timing also aligns with institutional shifts, as CME leveraged funds reduced their net short positions by 46.3 million XRP, indicating a sharp change in institutional positioning. Furthermore, XRP call options traded at a significant premium, suggesting a leveraged and crowded market.
Earlier in September, XRP whale activity and daily transactions were already elevated, with active accounts peaking at 17,222 on September 4. Santiment data indicated 3,647 new wallets and 1,917 whale transactions above $100,000 around the $1.60 breakout, suggesting participation from larger players. However, a previous Bitquery analysis suggested that a small number of accounts drove a large percentage of XRPL transactions, a point that Ripple co-founder David Schwartz acknowledged without fully disputing.
Several XRP Ledger upgrades are nearing activation, which could explain some of the preparatory activity. Batch V1.1, enabling atomic settlement, is expected around September 29, and PermissionDelegationV1_1 around October 5. These features are designed to facilitate multi-account treasury management and compliance for institutions, potentially leading them to create numerous new addresses. Additionally, XRP Ledger version 3.4.0 introduced lending protocol amendments and peer-protection upgrades, with native lending proposals XLS-65 and XLS-66 entering validator voting. Binance's launch of an $800,000 XRP rewards program for RLUSD holders on September 25 could also contribute to new wallet creation. Institutional infrastructure is also expanding, with ECB Pontes going live on September 21, utilizing XRPL-derived infrastructure. Despite significant XRP ETF inflows and the ability for institutions to use XRPL rails without holding XRP, the long-term engagement of these new accounts with features like lending and RLUSD will be a key test.