XRP Holders Panic as 40,000 Random Transactions Hit Network

The XRP Ledger has seen an unprecedented 40,000 transactions showing up at once. This has raised concerns among the network users who wonder what could have caused such a massive transaction batch.

An XRP Ledger validator shared the transaction information on X, referring to it as AccountSet Transactions. These are transactions caused by the configuration of a large number of wallets and are not likely done by an individual.

The process may involve activities like setting multisig, updating keys, turning certain flags on or off, adding domain info, etc., some of his followers further explained. It is carried out mainly by a crypto custodian, an exchange, or some institutional setup preparing wallets.

Are Whales Getting Set for Accumulations?

XRP has been in the news a lot recently, and many of the news are positive. For example, this report highlights several accomplishments of Ripple, the parent company of XRP such as huge acquisitions, ETF launches and others which make 2025 the best year for the company yet. 

Such accomplishments are likely to raise investors’ interest in the XRP token, although the price is still lower than expected in light of such milestones. According to one responder on X, the transaction could be from whales preparing cold wallets for inflows.

“I don’t think the surge in XRP’s AccountSet is driven by retail investors at all. It’s more likely that institutions and custodians are pre-activating cold wallets in bulk behind the scenes, paving the way for the next round of large-scale capital inflows.”

If this is the case, a spike in XRP ETF inflows may be expected in the near future as accumulation begins. Apparently, crypto custodial platform Bitgo had done a similar batch of transactions before the new 40,000.

Is XRP About to Blow?

If the transactions on the XRP Ledger are due to whale wallet preparations for accumulation, the question is will price action follow? Historically such accumulations have not immediately affected price as is the case with Solana. 

However, the tide may turn eventually as one analyst recently pointed out a market setup that looks like a repeat of 2017 for the token. If the setup plays out with the potentially huge accumulation coming from these new wallets on the network, XRP may be about to see a good jump similar to the 30,000% increase seen in  2017.

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