• XRPL transaction count rose 23.9% to about 2.1 million, with payments up 31.5% to 708,100
• XRP fee burn reached 337.2 XRP, slightly above the 30-day average near 319 XRP
• 85 whale wallets holding 1M+ XRP appeared two days before the August rally from $0.98 to $1.64
XRPL Activity Surges as Fee Burn Ticks Higher
Throughput on the XRP Ledger is climbing fast, and the network's fee-burn mechanism is absorbing the extra load. On-chain data as of the Sept. 17 UTC snapshot shows the total transaction count reached roughly 2.1 million, a 23.9% increase, while successfully completed transactions rose 15.7% to 1.6 million. Per-ledger throughput jumped 24.6% to 103.33 transactions, and payment transactions — the ledger's core use case — climbed 31.5% to 708,100.
The surge matters for supply because of how the ledger is built. Fees on XRPL are not distributed to validators; they are permanently destroyed, a mechanism that works like a continuous, usage-linked burn (see our explainer on XRP, Ripple's cross-border settlement asset). Every additional node processing traffic therefore pushes slightly more XRP out of circulation. The latest reading shows 337.2 XRP burned through fees, modestly above the 30-day average near 319 XRP. The annual record also contains sharper bursts, including a September spike above 1,000 XRP burned. Even so, the supply impact stays negligible: with tens of billions of XRP circulating, destroying hundreds or a few thousand tokens barely dents the float. In practice, burn data reads best as a barometer of genuine ledger demand, not a scarcity engine.
85 Whale Wallets Emerged Days Before the August Rally
Whale accumulation adds a second on-chain thread. Address data from analytics provider Santiment shows 85 new XRPL wallets holding at least 1 million XRP appeared just two days before XRP's mid-August surge, which carried the price 67% higher — from $0.98 to $1.64 — between Aug. 17 and Aug. 21. The one-day addition equated to roughly a 4.2% jump in addresses at or above the 1 million XRP threshold, lifting the total from about 2,025 to near 2,110 before it settled around 2,117. The timing is the notable part: the wallet expansion came immediately before the breakout, not after it.
Caveats apply. An address is not necessarily an individual holder — exchanges and custody providers operate many wallets, and a single investor can split holdings across addresses. Still, the persistence is telling: even as XRP surrendered part of its August gains, the count of addresses holding at least 1 million XRP stayed above 2,100 through the correction, per the latest Santiment readings. The institutional backdrop reinforces the picture. US-listed XRP ETFs kept drawing capital even during stretches of heavy outflows from Bitcoin funds — Franklin Templeton's XRP ETF booked a $3.5 million net inflow on Sept. 16 — and Ripple-backed Evernorth accumulated roughly 473 million XRP ahead of its planned public listing. For investors scanning the wider altcoin field, these flows mark XRP as one of the more institutionally wired altcoin markets.
XRP Fights to Reclaim $1.35 After Breakdown
Technicals are the soft spot. XRP trades near $1.30 after a sharp slide out of the prior consolidation band between $1.40 and $1.45, per the live XRP/USDT chart. The sell-off briefly dragged the price toward $1.27 and below the long-term moving average around $1.35, and rising volume accompanied the breakdown — a combination that warrants closer scrutiny than a low-liquidity dip. A rising moving average between $1.27 and $1.30 continues to act as firm support, with the $1.24–$1.25 zone as the next meaningful floor beneath it. Momentum has cooled as well: after holding elevated readings for most of the post-August rally, the relative strength index has drifted back toward neutral.
The Washington backdrop added pressure. The Senate fell short of the 60-vote threshold to advance the CLARITY Act, 49–50, a defeat Ripple chief Brad Garlinghouse pinned on Democrats, and the asset slipped toward $1.28 in its wake. For bulls, the sequencing is clear: first reclaim $1.35, then rebuild the $1.40–$1.45 structure. Until then, the short-term fate of the XRP topic hub's namesake asset hinges on whether buyers defend the support cluster rather than on any supply-side narrative.
Support Cluster Holds the Key for XRP
The three threads tell one story: XRPL usage, whale counts and institutional access are all expanding, yet price is testing whether demand actually shows up at the levels that matter. Our read at COINOTAG is that the 337.2 XRP fee burn and the sticky count of more than 2,100 million-XRP wallets are structural positives — but neither meaningfully contracts supply nor forces buying in the near term. The decisive variable is technical: defending $1.27–$1.30 and reclaiming $1.35. Failure opens the $1.24–$1.25 zone; success restores the path toward $1.40–$1.45. Traders weighing fresh positions can start with our guide on where and how to buy XRP.
