Despite relative price softness, on-chain metrics show the XRP Ledger is buzzing. According to CryptoQuant data, the ledger’s “velocity” — a measure of how often XRP moves between wallets — surged to 0.0324 on December 2, the highest level recorded in 2025. This surge means that instead of sitting idle in long-term wallets, XRP is circulating — indicating increased trading, repositioning, or new flows from institutions and whales.
Massive AccountSet & AMM Spike — Infrastructure Reset or New Entrants?
Blockchain-data trackers count more than 40,000 “AccountSet” transactions on the XRPL in late November — the highest account-setup activity seen in years. After a long quiet period, there was also a sharp uptick in AMM bid transactions. Observers suggest this spike represents more than routine custodial maintenance. Instead, it looks like new institutional actors preparing wallets, infrastructure and liquidity — potentially laying the groundwork for large-scale operations on XRPL.
XRPL’s 2025 Upgrades: From Payments to Programmable Finance
The ledger isn’t just seeing more activity — it’s also evolving under the hood. Key developments in 2025 include:
The ongoing rollout of a native smart-contract ecosystem via the XRPL EVM Sidechain, being developed with Peersyst Technologies. Once live, this sidechain will allow Ethereum-style dApps and smart contracts to run on XRPL, opening the door for DeFi, tokenized assets and cross-chain interoperability. The launch of tokenized real-world assets on the ledger, such as the integration of Ondo Finance’s tokenized U.S. Treasury product (OUSG), enabling minting and redemption via the ledger using stablecoins like RLUSD. The broader institutional push: more organizations are signaling interest in XRPL infrastructure, attracted by stablecoins, tokenization capabilities, and the prospect of compliant, low-latency settlement.
What This Means: Is XRPL Positioning for a New Era?
The convergence of rising on-chain activity, infrastructure upgrades, and institutional interest implies XRPL could be positioning itself as more than a crypto payments rail — but as a comprehensive blockchain financial layer, capable of handling traditional finance functions, DeFi, and tokenized asset flows.
For investors, protocol developers, and institutions, this could mean:
A potential re-rating of XRP from a speculative asset to a utility/infrastructure token Emerging opportunities in DeFi, stablecoins, and on-chain real-world assets with XRPL as the backbone Increased competition for older smart-contract platforms, especially if XRPL’s EVM-compatible sidechain delivers
What to Watch Next
The official launch of XRPL EVM Sidechain — once live, real-world dApps may start migrating. Institutional disclosures or filings that reveal new XRPL-based custody, stablecoin usage, or asset-tokenization adoption. On-chain metrics such as transaction volume, value locked (TVL), and wallet growth — to see if the current spike transitions into sustained growth. Market response (price, exchange flows, staking/yield demand) to the broader XRPL developments.
Published by Banx Network. This article is part of the Banx decentralized media programme, powered by the BXE token on the XRP Ledger.
