Daily payment transactions on the XRP Ledger have climbed sharply in early 2026, approaching the 3 million mark. According to Evernorth, activity has nearly tripled from roughly 1 million daily payments recorded in mid-2025. On-chain data from XRPScan confirms a steady recovery in network payments this year.
Evernorth reported that the pace has accelerated in recent weeks, with daily payments now near 3 million. The firm emphasizes that the growth reflects real blockchain usage rather than price-driven speculation. XRPScan data shows the trend in detail: at the start of 2025, daily payments rose from about 1.1 million to nearly 2.5 million by mid-January, then fluctuated between 1.3 million and 2.3 million through February and April. Activity weakened again in mid-2025, occasionally falling below 1 million in June and July. A gradual recovery began in Q4 2025, but December still saw dips below 1 million. The trend reversed at the start of 2026 – January averaged 1.5 million to 2 million daily payments, and the figure recently crossed 2.7 million, the highest since December 2024.
Market Pressure Persists While On-Chain Activity Surges
The global crypto market cap has dropped by over $551 billion this year. XRP contributed about $26.39 billion to that decline and now represents roughly 3.576% of the total market. Despite price headwinds, on-chain activity continues to climb. Evernorth views this as a signal of genuine adoption decoupled from speculation.
Evernorth's Nasdaq Listing and Institutional Play
Evernorth has announced a business combination agreement with Armada Acquisition Corp II. After closing, the combined entity will operate under the Evernorth name and trade on Nasdaq under the ticker XRPN. The deal is expected to raise over $1 billion in gross proceeds, including $200 million from SBI and additional backing from Ripple, Pantera Capital, Kraken, and GSR. CEO Asheesh Birla stated the company aims to expand institutional participation around XRP. Ripple CEO Brad Garlinghouse said Evernorth's approach aligns with efforts to broaden global payment utility. The transaction, approved by both boards, is expected to close in Q1 2026.