In the world of blockchain, performance isn’t just about what a network can do in a lab; it’s about how it handles the heat of a live market.
Over the past week, the XRP Ledger (XRPL) has provided a masterclass in operational resilience. According to real-time monitoring from XRPL validators, the network’s throughput spiked and sustained levels above 120 Transactions Per Second (TPS), with individual blocks processing between 600 and 700 transactions.
At Tapbit, we believe this surge offers a critical look at the “plumbing” of the digital economy. Here is what is actually happening under the hood of the XRP Ledger as of Q1 2026.
The Source of the Surge: DEX Offer Recalibration
While a 120+ TPS print might suggest a wave of new retail buying, the on-chain reality is more nuanced. Data shared by prominent XRPL validator Vet on March 27-28, 2026, indicates that this volume is primarily driven by Decentralized Exchange (DEX) activity.
- Offer Cancellations: The vast majority of these transactions are “offer cancellations” rather than new trade executions. This suggests that high-frequency traders and automated market makers (AMMs) are rapidly adjusting their positions in response to Q1 market volatility.
- Operational Utility: Even with blocks containing up to 700 transactions, the XRPL has maintained stable and low fee levels, proving its ability to scale without the “gas wars” common on other Layer-1 networks.
A Historical Milestone: 7.7 Million Wallets and Growing
This performance spike isn’t happening in a vacuum. The XRPL has seen a massive expansion in its user base throughout the first quarter of 2026.
- Wallet Records: In March 2026, the XRPL officially surpassed 7.7 million non-empty wallets, a new record in its 13-year history.
- Active Engagement: Daily active addresses reached a five-week high of over 46,700 in mid-March, signaling that despite price consolidation near $1.35, the underlying network utility is at an all-time high.
The Institutional Inflection: RWA and Prime Brokerage
The most significant takeaway for the 2026 outlook is how the XRPL is being integrated into legacy finance.
- DTCC Integration: On March 2, 2026, Ripple Prime was officially added to the DTCC’s NSCC directory. This allows institutional post-trade volumes to be routed directly onto the XRP Ledger, connecting Wall Street’s infrastructure to XRPL’s speed.
- Tokenized Commodities: The value of tokenized commodities on the network has exploded from $111 million to over $1.14 billion in early 2026, capturing roughly 15% of the global tokenized commodities market.
The Trader’s Takeaway
What we are seeing is a “technical breakout” before a “price breakout.” As the XRPL processes 120 TPS without breaking a sweat, it confirms that the network is ready to handle the next major wave of institutional liquidity.
For professional traders on Tapbit, this data confirms that XRP is no longer a speculative asset driven by courtroom news; it is a functioning settlement layer for global finance.
If you are ready to trade the next phase of the XRPL cycle, register your Tapbit account today. To monitor the real-time volatility as XRP fights major resistance, log in to the Tapbit Trading Terminal for institutional-grade execution and deep liquidity.
Frequently Asked Questions (FAQ)
Does 120 TPS mean the XRP price will go up?
Not necessarily. TPS measures the network’s technical efficiency. While it shows high utility (mostly DEX order management), price is driven by market demand and macro factors. However, high utility is a strong long-term fundamental indicator.
Why are most transactions “cancellations”?
This is typical behavior for market makers on a DEX. As prices fluctuate, bots and institutional traders must cancel old orders and set new ones to stay profitable and manage risk. The fact that the XRPL can handle this volume instantly is a testament to its design.
Is the network becoming more expensive to use during these spikes?
No. One of the unique features of the XRPL is its fee stability. Despite the massive block sizes in March 2026, transaction costs have remained low, avoiding the congestion issues seen on Ethereum or Solana during peak loads.
Disclaimer: This report is for informational purposes only. Digital assets are highly volatile. Always conduct your own research (DYOR) before trading on Tapbit.
