TL;DR
- XRPL daily successful transactions rose nearly 40% to about 2.5 million while XRP traded near $1.40; activated accounts are around 7.64 million.
- Derivatives saw $435.64M liquidations in 12 hours, with $393.43M longs; XRP accounted for $9.02M and bounced 1.91% in four hours.
- Technicals show resistance at $1.42-$1.45 and risk of a deeper leg if price accepts below the $1.29 lower Bollinger band. A daily close above the midband signals stabilization.
XRPās market tape is flashing mixed signals as the XRP Ledgerās throughput accelerates while derivatives still look unstable. On-chain activity is surging even as liquidation data implies more downside risk. Daily successful transactions have climbed nearly 40% to about 2.5 million, with XRP trading near $1.40 and sitting below key moving averages. At the same time, the broader market absorbed $435.64 million in liquidations over 12 hours, with $393.43 million tied to long positions, showing how fast leverage can unwind. That divergence is pushing desks to tighten exposure, shorten horizons, and prioritize liquidity over narratives.
šØJUST IN: XRP Ledger Transactions JUMP 40% ā Now Nearing 2.5 MILLION Per Day šš„
Daily successful transactions on the $XRP Ledger have JUMPED roughly 40%, approaching 2.5 million transactions per day. š
REAL NETWORK USAGE IS RISING. š https://t.co/OuHBch3Bze pic.twitter.com/5zYMQKLNdm
— Diana (@InvestWithD) February 22, 2026
On-chain strength meets a fragile derivatives tape
The network-side metrics read stronger than the price action. XRPL usage is being positioned as real adoption that can grow independently of short-term price swings. Activated accounts are reported around 7.64 million, supporting activity from micropayments to cross-border settlement. The ledger is also cited in tokenization efforts, including a Dubai government initiative to tokenize $5 million of real estate into 7.8 million tradable property tokens. The same report says XRPL represents 63% of the tokenized U.S. Treasury market and is hosting a permissioned DEX. In short, builders appear active even while price discovery remains hesitant.
Derivatives, however, are still driving the near-term narrative. The liquidation flush removed leverage, but it did not confirm a bullish reversal for XRP. Across exchanges, XRP saw $9.02 million in liquidations over 12 hours as leveraged longs were forced out. After that reset, price bounced about 1.91% over four hours as margin-call selling pressure faded. Yet the daily Bollinger Bands were described as expanding, which typically signals active range expansion rather than the compression pattern that often precedes durable bottoms. The takeaway is that positioning can reset, yet sentiment may stay defensive for longer still.
That is why traders are focusing on tight technical triggers despite better on-chain prints. The next confirmation sits at $1.42 to $1.45 overhead and $1.29 below, with Bollinger Bands defining the battleground. XRP remains below the Bollinger midline and the $1.42 to $1.45 zone that previously acted as support but now acts as resistance. The lower band is near $1.29. A daily close back above the midband would suggest stabilization, while acceptance below $1.29 would imply the sell-off is not over. Until those levels resolve, traders may treat rallies as tactical and keep hedges active.
