XRP Active Accounts Surge 132% as Ripple Expands Wall Street Connections Through BNY
XRP is showing an interesting divergence between network activity and market performance. While the token has struggled with price pressure, activity on the XRP Ledger (XRPL) has more than doubled over the past month. At the same time, Ripple is strengthening its institutional presence through an expanded partnership with banking giant BNY.
Together, these developments are putting renewed attention on XRP's underlying network adoption and its potential role in institutional finance.
XRP Active Accounts Jump 132% in One Month
According to CryptoQuant data, daily active accounts on the XRP Ledger increased from 15,678 on October 3 to 36,342 on November 3, representing a remarkable 132% increase in just one month.
The growth comes despite XRP declining from approximately $1.48 to $1.24 over the same period.
XRP Network Metric | October 3 | November 3 | Change |
Daily active accounts | 15,678 | 36,342 | +132% |
Receiving addresses | 30,870 | 44,451 | +44% |
Sending addresses | 15,127 | 21,432 | +41.7% |
XRP price | $1.48 | $1.24 | -16.2% |
The increase in both sending and receiving addresses suggests broader participation across the network rather than growth in just one type of transaction activity.
Additionally, XRPScan data showed 7,734 newly activated accounts on November 1, approximately 33% higher than the previous day and above the 30-day daily average of around 3,500.
However, rising active accounts do not automatically mean investors are accumulating XRP. Transaction activity can also reflect transfers, exchange movements and other network uses.
Ripple Expands Institutional Custody Partnership With BNY
Another significant development is Ripple's expanded collaboration with BNY (Bank of New York Mellon), one of the world's largest financial institutions.
Announced on October 27, the agreement expands BNY's institutional digital asset custody platform to support both XRP and Ripple USD (RLUSD) for eligible institutional clients.
BNY already served as the primary reserve custodian for RLUSD. The expanded arrangement now allows institutions to safeguard XRP and RLUSD through its established custody infrastructure.
BNY also intends to:
Enable eligible clients to mint and redeem RLUSD directly through the bank, subject to approvals.
Expand support for tokenized assets and investment products issued on the XRP Ledger.
Explore tokenized trade finance opportunities with Ripple and working-capital platform C2FO.
Develop blockchain-based solutions for payments, settlement and collateral management.
The scale of BNY makes this development particularly noteworthy. As of September 30, 2026, BNY reported approximately $63.4 trillion in assets under custody and administration.
This does not mean that BNY is purchasing $63.4 trillion worth of XRP. Rather, it gives eligible institutional clients access to established infrastructure for holding and managing digital assets.
Why These Developments Matter for XRP
The combination of rising network participation and expanding institutional infrastructure could strengthen the long-term XRP adoption narrative.
There are two important developments to watch:
1. Growing network participation: The 132% increase in active accounts suggests that activity on the XRP Ledger is expanding, even while the token faces market pressure.
2. Institutional infrastructure: BNY's expanded custody support could reduce operational barriers for traditional financial institutions seeking exposure to XRP and RLUSD.
Ripple is also exploring tokenized trade finance with BNY and C2FO, potentially opening additional use cases for the XRP Ledger beyond cryptocurrency transfers.
However, these initiatives still need to translate into measurable institutional adoption and transaction volumes.
What Comes Next for XRP?
XRP currently presents an interesting contrast: network activity is accelerating, institutional infrastructure is expanding, but the token price has yet to reflect these developments.
The key question is whether increased network participation and institutional access will eventually translate into sustained demand for XRP.
For investors, the next developments to monitor include active account growth, transaction volumes, institutional custody adoption and the expansion of RLUSD-based settlement activities.
Bottom Line - XRP's 132% increase in active accounts and Ripple's expanded relationship with BNY represent encouraging developments for the ecosystem. Nevertheless, network growth and institutional partnerships are not guaranteed indicators of an immediate price recovery. The real test will be whether these developments generate sustained economic activity and demand for XRP.
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