XRPL AI hits 1.2M transactions as XRP sentiment tops Bitcoin

XRP Ledger's AI agent ecosystem processed 1.21 million transactions in a single week, pushing XRP's bullish sentiment ratio to 3.02-to-1 — more than double Bitcoin's — even as price action remained muted near $1.08.

XRP traded at $1.08 as of 09:00 UTC on July 14, little changed from the prior day, after on-chain data showed XRPL AI agent transactions climbed 74% to 1,210,433 over the past week, according to XRPL-ai data. XRP-denominated settlements rose 279% to 3,784.90 XRP, while RLUSD settlements surged 304% to 1,641.14 RLUSD, signaling that utility-driven activity — not speculative transfers — is increasingly powering the ledger.

"The divergence shows expectations for XRP are rising faster than price confirmation," Santiment wrote in a July 13 analysis. The firm's data showed XRP's bullish-to-bearish sentiment ratio at 3.02-to-1, outpacing Ethereum's 2.31-to-1 and Bitcoin's 1.40-to-1. Stronger sentiment reflects confidence in expanding network utility, though excessive optimism often encourages short-term profit-taking once expectations become crowded, Santiment said.

RLUSD deposits on Morpho reached $250 million, up 40% over the past month, according to TokenTerminal data. The recovery from a prior drop-off indicates users are treating RLUSD as productive collateral rather than a transaction-only stablecoin. Higher deposits expand lending liquidity and borrowing capacity across the protocol, though lasting impact depends on sustained utilization rather than temporary capital concentration.

The utility gains come as XRP faces a structural disconnect between on-chain activity and user growth. New wallet creation on XRPL fell to 2,130 on July 11 — its lowest since November 2024 — while daily active addresses dropped to 22,888, one of the weakest readings of the year, Santiment data show. The divergence between rising AI-driven transaction volume and stagnant retail engagement raises the question of whether the ledger is accumulating real economic activity in a category that traditional metrics fail to capture.

RLUSD expands into DeFi liquidity

The growing payment activity is translating into broader on-chain capital deployment. RLUSD's $250 million in Morpho deposits marks the highest level ever for the stablecoin on the lending protocol, TokenTerminal data show. The 40% monthly increase follows a period where deposits briefly exceeded $200 million before dropping off, then recovered — a pattern that suggests users are returning to deploy capital rather than test the infrastructure.

Sustained borrowing and lending activity will determine whether RLUSD's expanding supply creates durable DeFi demand or temporary capital concentration. Ripple's stablecoin had $2.5 billion in settlement volume on XRPL, though roughly 80% of total RLUSD supply was held on Ethereum as of mid-2026, according to available data.

Retail optimism outpaces price confirmation

XRP's sentiment advantage over Bitcoin and Ethereum reflects a market pricing in future utility rather than current spot demand. The 3.02-to-1 bullish ratio is higher than all major cryptocurrencies tracked by Santiment, yet XRP remains trapped inside a descending parallel channel that has governed price action since the asset peaked near $3.65 in mid-2025.

Approximately 68% of circulating XRP is held by large wallets that have been moving coins into cold storage rather than to exchanges, according to Santiment data published July 11. The price floor near $1.00 is supported by an absence of supply pressure from these holders rather than by fresh demand — a structurally different form of support than one driven by new buyers entering the market.

Every major MVRV timeframe — 30-day, 180-day, 1-year, and 3-year — remained below zero as of July 11, meaning the average XRP holder who entered at any point in the past three years is sitting on an unrealized loss at current prices. Historically, such readings have marked accumulation zones for major cryptocurrencies, though they offer no guarantee of a recovery timeline.

The next test for XRP is whether growing ecosystem activity — AI agent payments, RLUSD DeFi integration, and institutional settlement volume — generates enough demand to justify today's increasingly bullish positioning. Market participants are monitoring the CLARITY Act's full Senate vote, now scheduled for August, as well as spot XRP ETF flows and Federal Reserve policy for the next major catalyst.

This article is for informational purposes only and does not constitute investment advice.