XRP Ledger 'Ghost Chain' Debate Erupts New Bitquery research found that just 793 accounts handled 93.2% of ripple:native Ledger's transactions in August. The report classified 767 of those accounts as machines, including bots and spam accounts. The network also processed more

What happened

New Bitquery research found that in August, only 793 accounts handled 93.2% of XRP Ledger's native transactions. The report classified 767 of those accounts as machines, including bots and spam accounts, sparking a 'ghost chain' debate.

Confirmed

Global impact / market context

If most activity comes from bots, real users may be few, which could reduce trust in XRP's network and affect its value. Investors might worry that low genuine usage makes the network less useful for payments, potentially impacting demand for XRP.

Analyst inference

This news could influence how traders view XRP's fundamentals. A 'ghost chain' label might raise concerns about the network's health, possibly affecting investor confidence and trading behavior. However, other factors like partnerships or regulations also shape XRP's price, so this is just one piece.

Analyst inference

What to watch

1. Watch for further research or reports that confirm or challenge Bitquery's findings, especially regarding the proportion of bot versus human activity on the XRP Ledger. Confirmations could reinforce the debate. Confirmed
2. Investors should consider monitoring XRP network usage metrics, such as the number of active accounts and transaction volumes from real users, to see if growth or decline occurs after this report. Proposed
3. Watch whether Ripple or XRP community leaders respond to this report, as their explanations could influence market sentiment. If they provide data showing meaningful real-user activity, it might counter the 'ghost chain' narrative. Analyst inference

Affected assets

• XRP — XRP

Evidence

• x.com