The XRP Ledger recorded 11,432 new accounts on September 24, 2026, according to XRPScan, versus a 30-day average of roughly 2,700 to 3,000 activations. The figure was more than three times the baseline and coincided with XRP rising from $1.40 to $1.60 on $7.4 billion in volume. The cause remains uncertain because exchange batch funding, custody migrations, airdrop farming and speculative wallet splitting can all create AccountRoot entries. Market positioning was also unusually active: CME leveraged funds cut 46.3 million XRP in net shorts, while one-week XRP call options traded at a premium and the 25-delta skew reached 9.3 volatility points. Earlier September activity included a peak of 17,222 active accounts on September 4, 3,647 new wallets around the $1.60 breakout and 1,917 transactions involving whales above $100,000. XRPL upgrades and ecosystem developments could also be contributing, including Batch V1.1’s expected activation around September 29, PermissionDelegationV1_1 around October 5, lending amendments in version 3.4.0, validator voting on XLS-65 and XLS-66, and Binance’s $800,000 RLUSD rewards program beginning September 25. ECB Pontes also went live on September 21 using XRPL-derived infrastructure. XRP ETF inflows have crossed $1.7 billion, although 21Shares has said institutions can use XRPL rails without holding XRP. The key test is whether the new accounts remain funded and interact with lending, RLUSD or Batch features rather than becoming dormant.