The XRP Ledger (XRPL) observed a steady uptick in its network performance throughout the third quarter of 2025, as detailed in a recent report by Messari.

Key Highlights:

• The average daily transactions surged by 8.9% quarter-over-quarter, climbing from 1.6 million in Q2 to 1.8 million in Q3.
• There was a 15.4% increase in daily active sender addresses, rising from 21,900 to 25,300.
• The total number of new addresses surged by 46.3%, reaching 447,200, escalating the overall addresses on the network to 6.9 million.

Messari’s analysis revealed that for the fifth consecutive quarter, the active receiver addresses surpassed active sender addresses. However, the average daily receivers saw a decline of 30.1%, dropping from 72,000 to 50,300. Such trends typically indicate distribution events like airdrops.

Airdrops notably influenced this quarter, with a privacy-focused sidechain in the Cardano ecosystem, Midnight, executing a snapshot in June for its NIGHT token airdrop. This involved XRPL users holding more than $100 worth of XRP during the claim period from August 5 to October 4.

NFT Activity: Average daily NFT transactions skyrocketed by 51.1%, jumping from 50,400 to 76,100, propelled mainly by a 70.8% increase in average daily NFT mint transactions, elevating from 37,800 to 64,600.

XRP Price Performance: The native token, XRP, concluded Q3 with a remarkable price of $2.85, reflecting a 27.2% increase from the previous quarter. Its market capitalization surged by 29% to reach $170.3 billion, surpassing the collective 13.3% growth observed in Bitcoin, Ethereum, and Solana during the same timeframe.

However, XRP faced a downturn in October, falling by 12% to approximately $2.50 due to negative market sentiment spurred by the US Federal Reserve’s hawkish guidelines.

Debate on XRP’s Utility: The recent price drop reignited discussions regarding XRP’s actual utility, as crypto analyst Scott Melker, known as “The Wolf of All Streets,” raised questions about its purpose, noting that major financial entities are exploring alternative payment solutions. While some community members see XRP as a neutral conduit for international transactions, others critique its long-term value. Melker recognized its technical advantages but remains uncertain about its future prospects.