The XRP Ledger (XRPL) has achieved a significant milestone, surpassing 8 million activated accounts for the first time. This growth comes amid rising bullish sentiment, increased DeFi activity, and a notable shift in stablecoin liquidity toward alternative Layer-1 networks.
Market Rotation Fuels Altcoin Interest
Current market data indicates conditions typical of an altcoin season. While Bitcoin dominance has risen above 59% for three consecutive weeks, Ethereum dominance has also gained, lifting the ETH/BTC ratio by over 10% in the past three weeks. This suggests capital is rotating beyond Bitcoin, spreading to other major cryptocurrencies.
According to AMBCrypto, fear of missing out (FOMO) surrounding XRP and Ethereum has reached its highest level in five weeks, while Bitcoin sentiment remains neutral. XRP currently leads Ethereum in bullish discussions, with a 3.02-to-1 bullish-to-bearish comment ratio compared to Ethereum’s 2.31-to-1.
On-Chain Activity Strengthens
The XRP/BTC ratio has been consolidating around the 0.000015 level for nearly 10 weeks, indicating potential long-term accumulation rather than short-term speculation. Meanwhile, on-chain metrics are improving. DeFiLlama data shows total value locked (TVL) on XRPL increased by over 3% in the last 24 hours, while stablecoin supply on the network grew by more than 6%, bringing nearly $1 billion back into the ecosystem.
In contrast, over $2 billion in stablecoins left the Ethereum network during the same period, suggesting liquidity is shifting toward XRPL and other Layer-1 alternatives. If this trend continues, XRP could benefit from stronger network participation beyond mere sentiment.
XRPL Crosses Historic User Milestone
The XRP Ledger has officially exceeded 8 million activated accounts, reaching 8,000,688 wallets. According to XRPScan, these wallets collectively hold 67.526 billion XRP, representing the token’s circulating supply. Unlike previous reports that counted all ever-created wallets (including deleted ones), this milestone counts only activated accounts, marking the first official time the network has achieved this level of active participation.
With improving DeFi metrics, growing stablecoin liquidity, and extended XRP/BTC consolidation, the network is drawing increased attention. Investors will watch closely to see if these fundamentals translate into sustained market strength.
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