Ripple’s native cryptocurrency, XRP, has experienced a surge in activity and utility in August, with record-breaking on-chain transaction volume and circulation. The positive metrics can be attributed to major XRP holders, known as “whales,” increasing their holdings in anticipation of a favorable outcome in Ripple’s legal battle against the SEC. Additionally, there has been a notable increase in development activity around XRP, indicating strong adoption by developers. Despite the regulatory uncertainty, XRP is demonstrating increased utility.
AI Sentiment: Positive