XRPL On-Chain Activity vs XRP Price — Jan 2024 to Jun 2026

30 months of XRPL data — 5.26M → 8.16M accounts:
Jan 2024: 7.16M txns/day — inscription peak. Total accounts ~5.26M. Price ~$0.62 and flat. Enormous ledger load with zero price response.
Dec 2 2024: Reserve drop from 10→1 XRP. Single biggest account creation day (31,278). Total accounts cross 5.8M. Both creations and price spike — different causes on the same day.
Jan 2025: Total accounts cross 6M. Price peaks ~$3.40. The clearest price-account correlation in the dataset — but with a lag.
Jul 18 2025: ATH $3.66. Total accounts reach 6.95M. Txns only 2.8M — well below inscription highs despite price record.
Sep 2026: Total accounts cross 2M net new. Price at ~$2.90. Account growth is remarkably steady regardless of price level.
Apr 8 2026: Tariff panic drives 5.57M txns at price $1.39. Total accounts 2.71M net. Bots spike, creations barely move.
The account growth curve is the most structurally compelling series — near-linear growth from 5.26M to 8.16M over 30 months, decoupled from price volatility.