XRPL's 120 TPS Moment: No New Money, Just Traders Hitting the Panic Cancel Button

The XRP Ledger is back in the spotlight after on-chain activity climbed above 120 transactions per second, with blocks handling roughly 600 to 700 transactions each. The spike arrived alongside continued RLUSD supply adjustments from Ripple—including fresh minting on XRPL and burns on Ethereum—while $XRP lingered around $1.35, keeping market participants dual-focused on network usage and price structure. Because nothing gets degens more excited than watching their limit orders get canceled in real-time.

Recent network data from XRPL validator Vet showed the XRP Ledger processing more than 120 transactions per second over a sustained period. Blocks were handling approximately 600 to 700 transactions each, demonstrating the ledger could manage dense activity without abnormal fee pressure. The surge did not stem from payment transfers. Instead, most volume came from decentralized exchange activity—specifically offer cancellations. The pattern indicated traders were adjusting or removing existing orders rather than opening new positions. Still, the activity proved the network could process a heavy stream of instructions in real time. Basically, XRP's blockchain had its moment as the world's most expensive order-canceling machine.

Vet shared a live view of XRPL transaction flow to illustrate the pace and consistency of network processing, giving the community a direct look at how the ledger handled the load. Community responses varied, but the validator kept the focus on network behavior and execution rather than price reaction. He noted that cancellations simply reflected users removing earlier DEX offers—making the surge an operational event within XRPL's exchange layer, not a sudden rise in capital transfers. Even so, the volume gave developers and users a fresh look at how the ledger performs under heavier traffic. No new money came in, but hey, at least the network didn't choke on a bunch of panic button clicks.

Alongside the jump in ledger activity, Ripple's stablecoin recorded new supply movements. In the last 24 hours, 9 million RLUSD were minted on the XRP Ledger through two transactions—one for 4 million and another for 5 million tokens. During the same period, more than 10 million RLUSD was burned on Ethereum, pointing to another round of supply rebalancing across networks. March has seen repeated RLUSD minting and burning activity as Ripple expands the token's role in enterprise settlement and payments. A larger share of total RLUSD supply still sits on Ethereum, but the fresh minting on XRPL keeps attention on the ledger's role in Ripple's broader stablecoin strategy. Meanwhile, RLUSD continues its glamorous life of getting minted on one chain and burned on another like a influencer doing detox.

Ripple has also tied RLUSD growth to real-world payment use cases. The company recently began a pilot in Singapore's MAS BLOOM sandbox to support cross-border trade payments using RLUSD and XRP Ledger infrastructure. That step adds context to the recent minting activity, as Ripple continues positioning the stablecoin for business payment flows. Because nothing says "enterprise adoption" quite like a pilot program in a regulatory sandbox that might eventually process real trade payments—someday.

While XRPL activity and RLUSD supply changes drew attention, $XRP price remained below a level some analysts view as critical. $XRP traded around $1.35 on March 28, leaving it roughly 30% below the $1.70 key resistance level with a 1.38% rally in the last 24 hours. According to that view, a move above $1.70 could shift $XRP from consolidation into a stronger upward trend. The same analysis pointed to April or May 2026 as a possible window for a larger rally if that level turns into support. $XRP would still need a much larger gain to move beyond its previous all-time high of $3.84 from January 2018. For now, $XRP remains tied to broader market conditions as well