Over 40,000 AccountSet Transactions on XRP Ledger Spark Network Speculation
The XRP Ledger recorded an unusual burst of over 40,000 AccountSet transactions within a short period, prompting speculation that institutions or large operators are preparing clusters of wallets rather than a scripting error. Observers noted the transactions were structured and consistently sized (20,000–40,000), suggesting a deliberate batch setup often used to adjust keys, enable flags, or ready wallets before adding liquidity. The event differed from a past BitGo-related anomaly that stemmed from a script loop. At press time, XRP traded around $2.19, holding support between $2.19–$2.24 with weekly gains above 5%. Analysts identify $2.35 and $2.88 as near-term upside targets and $1.87 as a downside risk if $2.19 fails. Technical indicators show RSI breaking its downtrend and price sitting above a long-term ascending trendline from 2022; reclaiming $2.80–$2.88 could accelerate a move toward the $3.30 barrier. For traders: the ledger activity suggests backend preparations that could precede liquidity inflows; maintain risk management around the $2.19 support and watch for volatility if $2.35 is tested.
Neutral
The news is categorized as neutral because it reports significant on-chain activity (40,000+ AccountSet transactions) without direct evidence of immediate large token movements or confirmed liquidity inflows. Structured, repetitive AccountSet actions point to backend preparation — often a precursor to institutional onboarding or internal testing — which can be bullish if followed by deposits and market-making activity. However, no accompanying transfers, large escrow movements, or exchange deposits were reported to confirm fresh supply or demand. Price action is holding a key support band ($2.19–$2.24) and technicals (RSI breakout, above long-term trendline) show improving momentum, which supports a cautiously optimistic view. Short-term implications: increased volatility risk around support and target levels ($2.35, $2.88); traders should watch order flow and exchange on-chain flows for confirmation before taking directional positions. Long-term implications: if the AccountSet activity precedes institutional liquidity, it could underpin higher price floors and smoother liquidity — a bullish structural outcome. Conversely, if the activity is purely internal testing with no subsequent liquidity, market impact will be limited. Similar past events (e.g., prior BitGo script anomaly) show that engineered ledger activity can be benign or informative depending on follow-up on-chain deposits. Therefore, until concrete deposit or withdrawal patterns appear, the prudent stance is neutral with vigilant monitoring.