- XRP Ledger activity has surged, while Jane Street has sharply increased its XRP ETF holdings.
- Ripple is also expanding in South Korea, with RLUSD supply nearing $1.8 billion.
XRP Ledger activity has climbed to a two-month high, with daily active addresses nearing 50,000. At the same time, Jane Street has sharply increased its Bitwise XRP ETF stake, while RLUSD supply has recovered to $1.73 billion and is closing in on its record high.
XRP Ledger Activity Reaches Two-Month High
XRP Ledger activity has picked up despite relatively weak price action. The seven-day average of active addresses rose 6.4% to around 16,100 daily users.
Daily activity has also shown a stronger increase. On August 14, active addresses reportedly reached 49,900, marking a two-month high.
The rise stands out because XRP has traded around or below the $1 level. It suggests that network usage is not moving in line with short-term price sentiment.
However, higher address activity does not automatically mean stronger value capture. Declining burn fees indicate that transaction intensity may still be limited despite the increase in active wallets.
Jane Street Expands XRP ETF Exposure
Institutional activity has also attracted attention. A recent SEC 13F filing shows that Jane Street held about 1.2 million shares of the Bitwise XRP ETF as of June 30.
The position was worth roughly $14 million. It represents a major increase from the 20,605 shares reported three months earlier.
Jane Street also disclosed positions in XRP-related funds from Franklin Templeton, Grayscale, Canary Capital and 21Shares.
Still, these holdings should not automatically be viewed as a direct bet on higher XRP prices. Jane Street is a major ETF market maker and authorized participant. Its positions can support trading and liquidity across different funds.
Ripple Expands Payments Network in South Korea
Ripple has also strengthened its presence in South Korea through a partnership with Jeonbuk Bank.
The regional bank will use Ripple Payments to provide faster cross-border settlement for business customers. These include import-export companies, IT startups and online content creators.
Ripple says its payment infrastructure can settle international transfers within seconds or minutes. This could reduce delays associated with traditional cross-border transfers that rely on multiple intermediaries.
The Jeonbuk Bank agreement is Ripple’s third partnership in South Korea this year. Earlier deals involved Kyobo Life Insurance and Kbank.
RLUSD Supply Nears $1.8 Billion
Ripple’s RLUSD stablecoin is another area showing renewed growth. Its supply previously reached above $1.8 billion in June before falling to around $1.41 billion.
The supply has since recovered and now stands near $1.73 billion. That leaves RLUSD less than $90 million below its previous record.
Overall, rising XRP Ledger activity, increased institutional exposure and Ripple’s expanding payment network highlight growing use across the XRP ecosystem. RLUSD’s recovery adds another sign that demand for Ripple’s broader infrastructure remains active.
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