XRP Records Biggest Spike In Network Usage In 2 Months

Failed transactions on the XRP Ledger climbed sharply this week alongside a burst of new user activity, as on-chain data pointed to a wave of participation that accompanied the token’s latest price recovery.

Wallets Running Toward 8 Million

Total activated accounts on the XRP Ledger reached 7,856,080, putting the network within striking distance of a milestone that has been building for months.

That figure was pushed higher by a surge in new wallet creation — 3,317 fresh wallets were added in a single day, the strongest reading since March 19.

New wallet activity had been relatively quiet for much of May, dipping to around 2,200 on May 10 before climbing back up in the days that followed.

Active addresses on the network also jumped. According to Santiment, 48,453 unique addresses were active within a 24-hour window — the highest count since March 30.

XRP’s price had climbed above $1.54 during that period, a level it had not reached in roughly two months, before pulling back below $1.50.

Santiment attributed much of the activity surge to investor response to the price move. Data shows that wider participation across a blockchain network is generally seen as a positive indicator for medium- and long-term valuation, even when the initial trigger is price-driven excitement.

Errors Spike Alongside Activity

Separate data from XRPScan added another layer to the picture. The number of active users tracked through source tags and destination tags moved above 184,000 on May 15, the second-highest reading since early April.

At the same time, failed transaction errors rose sharply. Attempts returning a “tecNO_PERMISSION” result — which occurs when a sender lacks authorization for an operation — reached 1,332 on May 19, the highest since March 31.

Transactions failing due to “tecINSUFFICIENT_FUNDS,” meaning the sender did not hold enough of the required asset, climbed to 656 on the same date, a peak not seen since April 19.

XRP joined a broader market rebound this week, briefly touching $1.54 before resistance slowed the move. That short-term rally was enough to pull several network metrics to their best levels in weeks.

According to Santiment, the daily active address count and new wallet figures had shown no consistent direction for most of the month.

The jump recorded this week broke from that pattern. Whether the uptick in usage holds beyond the immediate price action remains to be seen, but for now, the XRP Ledger posted its most active stretch since late March.

Featured image from Pexels, chart from TradingView