TLDR
- XRP Ledger activity nears 2.5M daily transactions.
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Arizona advances a reserve bill listing XRP as an eligible asset.
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XRP price falls with wider market weakness and exchange inflows.
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Santiment says large realized losses may indicate market bottom.
XRP is nearing a major milestone in network activity as daily transactions on the XRP Ledger approach 2.5 million. The rise comes during a period of increased attention from U.S. state policymakers. Arizona lawmakers have advanced a bill that includes XRP in a proposed Digital Assets Strategic Reserve Fund.
Despite these developments, XRP continues to trade lower. The token has followed broader market declines and has seen increased exchange inflows from large holders during the recent downturn.
Rising Activity on the XRP Ledger
Recent data shows daily transactions increasing nearly 40% in recent weeks. The figure places XRP Ledger activity near record levels. The network supports cross-border payments, token transfers, and decentralized finance applications. The rising volume suggests expanding activity across these use cases.
Until you look into it and discover the majority of transaction are coming from a few accounts just spamming the ledger with bullshit….
These two account are responsible for almost 50% of the transactions in this ledger. https://t.co/brGqHrRAOS pic.twitter.com/k9NU7n1gt9
— 𝕾𝖈𝖆𝖒𝖘 𝖆𝖗𝖊 𝖇𝖆𝖉 (aka. ScamDaddy𐦐) (@ScamDetective5) February 22, 2026
Some traders, however, noticed that many transactions appear to originate from a small group of addresses. Screenshots shared on social media show repeated payments of very small amounts. These occurred in rapid sequence from the same wallet. This pattern may indicate automated activity rather than widespread user engagement.
Observers note that transaction counts alone do not always reflect broader adoption. A high concentration of activity in a few addresses can make network usage appear larger than it is. Still, the rising volume has attracted interest from analysts who track development across different chains.
Arizona Moves Forward With Digital Reserve Proposal
Arizona lawmakers are progressing with legislation that would create a Digital Assets Strategic Reserve Fund. The bill passed a committee vote and will continue through the state legislative process. The proposal allows the reserve to hold a range of digital assets, including Bitcoin, DigiByte, and XRP.
🚨UPDATE: Arizona Sets February 23 HEARING on Bill to Add XRP to Official State Digital Asset Reserve 🇺🇸🔥
Arizona’s Digital Assets Strategic Reserve bill (SB1649) — which explicitly includes $XRP — is officially MOVING to the NEXT STAGE. 👀
After CLEARING the Senate Finance… https://t.co/6cSsTyfmsy pic.twitter.com/Jf6H4W6jJJ
— Diana (@InvestWithD) February 22, 2026
Under the bill, Arizona’s Treasurer would manage the fund. The reserve would hold assets seized or surrendered to the state or allocated by lawmakers. The Treasurer could invest the assets during a fiscal year. The legislation also allows digital asset lending as long as it does not increase financial risk to the state. Lawmakers said the reserve would remain separate from the General Fund.
The bill details a method for assessing the fair value of supported assets. The criteria include market capitalization, network activity, and decentralization. This provides a framework that evaluates digital assets beyond speculation.
Policy analysts note that the inclusion of XRP places it within a formal financial structure. For XRP holders, this marks a change from earlier regulatory debates that centered on enforcement cases.
XRP Price Declines With Wider Market Weakness
Despite the rising activity and policy attention, XRP has traded lower in recent days. The price fell near $1.39 after a 2% decline in the past 24 hours. Bitcoin also moved lower during the same period. Total crypto market capitalization fell as well.
Traders pointed to broader market weakness rather than XRP-specific issues. Fear indicators remain elevated, and some investors are reducing positions across major assets. On-chain data shows that more than 31 million XRP were transferred to Binance in one day. These transfers came mainly from large wallets holding more than 100,000 XRP. Such inflows often raise concern about potential selling.
Market analysts say XRP’s short-term trend is likely tied to overall sentiment. However, some believe new developments could influence medium-term movement if market conditions stabilize.
Analysts Track Signals for Possible Reversal
A recent report from Santiment noted that XRP investors recorded their largest realized loss since 2022. The firm said heavy realized losses often occur near peak fear. This can remove weaker positions from the market and may support later recovery.
Source: Santiment
Santiment said that after a similar pattern in 2022, XRP gained more than 114% over eight months. It noted that recent losses suggest a potential shift in market structure. Other developments, including new payment programs using XRP, support this perspective.
XRP continues to attract institutional interest and growing on-chain activity. The next price move may depend on market stabilization and continued demand for network services.
