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The XRP ledger recorded an unusual spike in AccountSet and AMM Bid transactions this week, sparking widespread discussions on cryptocurrency Twitter. The registry processed more than 40,000 AccountSet transactions at the end of November, showing its highest onboarding activity in years.
Activity continued even after BitGo completed the rollup updates. This suggests that there are new actors preparing or reconfiguring a large number of accounts, rather than routine custody adjustments.
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What does a growth in a group of accounts indicate?
AccountSet transaction update settings, including security flags, AMM (automated market maker) permissions, and multi-signature configuration. Typically used when organizations are preparing to set up accounts for new services or liquidity operations.
Therefore, a spike of this magnitude suggests structured preparation. Analysts believe this may include custodians, market makers, or automated systems That creates XRPL accounts On a grand scale.
The model resembles the preparation of the network rather than the commercial behavior of individuals.
Previous spikes associated with custody maintenance have not reached current levels, reinforcing the view that new participants are entering the network.
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AMM bid activity indicates liquidity positioning in XRP
AMM Bid transactions also increased after November 23rd. These transactions help liquidity providers to bid on auction slots for AMM transactions and sit in automated XRPL market maker pools.
The strong growth indicates that liquidity players are preparing to secure initial positions. Initial bids often fetch the most lucrative prizes, which makes timing important.
The increase in AMM coincides with broader developments in XRPL. It was accelerated Approval of RLUSD,AMM implementation progress,Join the institutions In the last few weeks. This offers a possible explanation for the sudden movement of liquidity.
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ETF flows for XRP add another layer of context
The growth is also followed by a release US XRP ETF. The products generated $643.92 million in net flows and reached $676.49 million in total ETF assets.
Flows have increased over nine of the past ten sessions, indicating strong institutional demand.
While ETF flows do not directly interact with Ledger XRPThey affect how custodians manage the storage and security of XRP.
Large ETF orders can stimulate new institutional custody accounts, reconfigure storage systems, expand portfolio architecture, and prepare for higher liquidation activity. These operations often include AccountSet transactions.
Therefore, the ETF wave can indirectly contribute to the formation demonstration.
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Implications for the market
The combined increase in formation and AMM activity indicates structural preparations under the XRP ecosystem. This type of activity is often preceded by network upgrades, liquidity expansion, or new lines of business.
However The price of XRP remains volatilethe notebook data suggests increases in background activity. Market watchers see these patterns as early indicators of broader participation, rather than isolated anomalies.
So far, the developers have not commented publicly.
However, the coordinated increase in AccountSet and AMM Bid transactions indicates significant infrastructural changes on the XRP ledger.
