Activity on the XRP Ledger suddenly exploded. Daily transactions jumped from about 1.1 million to 2.7 million by March 11, 2026. That is a 145% surge in network usage. The weird part is that the price barely reacted.

When network activity jumps this fast, the market usually notices. Traders pile in. Momentum builds. This time, the network is moving, but the token is standing still.

XRPL Activity Hits New Highs as Daily Transactions More Than Double

The jump to 2.7 million daily transactions is not just a random spike. It is the busiest the XRP Ledger has been since at least March 2025, and there might not be just one reason behind it.

Several things are hitting the network at the same time. Tokenized real-world assets on XRPL alone reached about $139 million in volume by March 10. That is a 1,282% monthly jump and already about 1.75% of the entire tokenized asset market. At the same time, DEX trading is rising, cross-border payment flows are picking up, and Ripple is expanding its stablecoin infrastructure across the ecosystem.

(Source: CryptoQuant)

Institutions are also starting to show up. Evidently, on March 2, 2026, Ripple Prime appeared in the DTCC NSCC Market Participant Identifiers directory. That might sound technical, but it is a big step. It means institutional post-trade volumes can potentially route through the XRPL settlement layer.

Ripple CTO David Schwartz has previously said integrations at the DTCC level could reshape how XRPL is used in financial settlement. This week’s transaction surge suggests the network may already be handling larger-scale activity.

The ecosystem around it is expanding too. More than 107 million FXRP are now locked on the Flare network, extending XRP usage beyond the core ledger.

To put it in perspective, the network was already averaging around 1.1 million daily transactions earlier in 2026. Jumping to 2.7 million in just weeks is not normal background noise. It is real growth happening across several parts of the ecosystem at once.

XRP Price Remains Range-Bound Despite the Network Surge

Here is where things get tricky for XRP traders. The network is buzzing, but the price is not following. XRP is still stuck in a tight range, struggling to break above the $1.44 resistance that has rejected it several times.

For now, support sits around $1.34, which is the level bulls really need to hold. Even stranger, trading volume is falling while transactions keep rising. That usually means the market is not fully convinced yet.

This kind of disconnect is not new in crypto. On-chain activity often moves first. Price usually catches up later. Sometimes weeks later. Sometimes months.

(Source: XRPUSD / TradingView)

XRP already showed how volatile it can be this year. The token dropped from $2.40 to $1.11 earlier in 2026 before bouncing back above $1.44. Moves like that leave psychological scars on the chart. Traders become cautious. It takes a strong catalyst to push through those levels again. Right now, the setup looks more like a quiet accumulation than selling, but the chart still needs to prove it.

There is another factor worth watching. A huge chunk of XRP trading happens in South Korea. About 33% of global volume comes from that market alone. That means shifts in Korean sentiment can move the price quickly in either direction. Meanwhile, XRP investment products pulled in more than $33 million in weekly inflows earlier in March. That suggests institutions are slowly building exposure, but institutional money rarely moves the spot price overnight.

The bullish case is easy to see. XRPL activity is rising fast. Tokenized assets are expanding. Institutional rails are starting to connect. ETF inflows are building. Those kinds of fundamentals often show up before the market finally reacts.

The bearish side is simpler. Transaction spikes on XRPL have sometimes been inflated by automated activity. And until XRP actually breaks $1.44 with real volume, the chart is still cautious.

For now, traders are watching the next catalysts. Ripple’s stablecoin infrastructure and potential XRP ETF approvals could change the narrative quickly. And if institutional settlement activity really begins flowing through XRPL, today’s 2.7 million daily transactions might end up looking small.

The network is clearly moving, but the real question comes when the market decides to catch up.