While market observers often watch the price of tokens, the real story right now is happening in the background of the XRP Ledger.
This surge in professional investment coincides with a massive spike in network use. Daily transactions on the ledger have jumped to nearly 3 million. That is three times the volume seen just a year ago.
Institutional Growth Drives Record Network VolumeData shows that the XRP Ledger is handling more than just simple transfers. Tokenized commodities have crossed a $1 billion milestone on the network. At the same time, Ripple’s own stablecoin, RLUSD, has reached a $1 billion market cap.
Ripple just moved 75,000,000 XRP worth $107,000,000 on-chain 
The path of these tokens ended at different destinations. Based on reports, 50 million of the XRP reached Coinbase wallets. The other 25 million stayed in private addresses. This type of movement often makes traders nervous about a price drop.
Usually, sending tokens to an exchange means someone is getting ready to sell. Despite the large amount of money moving, the price of XRP did not crash.
XRP has actually held its ground quite well. The token is trading between $1.43 and $1.44. In the last seven days, it rose by about 8%. This performance was better than Bitcoin or Ether during the same period.
Analysts suggest that the 75 million XRP transfer might be for liquidity management. Since big investment firms are buying into ETFs, they need a steady supply of tokens to trade.
Ripple may be moving these funds to make sure the market has enough depth to handle that demand.
Featured image from Unsplash, chart from TradingView
