XRP (CRYPTO: XRP) is currently priced around $1.42 after its failure to maintain above $1.50 following a rally on May 14 due to the CLARITY Act news. Meanwhile, Solana (CRYPTO: SOL) is trading above $86 after dropping below the $90 support level, while Cardano (CRYPTO: ADA) has decreased from $0.28 to about $0.25.
As all three cryptocurrencies face bearish pressure, investors are focusing less on price alone and more on on-chain activity to identify which network is showing true strength. We analyzed the latest on-chain activities of XRP, Solana, and Cardano to assess their current performance.
Analyzing On-Chain Activity of XRP, Solana, and Cardano
While Solana showcases the highest overall network scale, XRP has witnessed a significant increase in network activity, and Cardano’s broader network metrics show weak usage.
XRP Insights
According to XRP Ledger’s data, daily transactions averaged between 1 million and 1.2 million up to mid-2025, rising to about 1.45 million by December 2025. In May, this surged to 2.7 million, almost double the December peak.
Following the CLARITY Act news, XRP’s price rose to $1.54, which spurred heightened network activity, with 3,317 new wallets created in a single day—its highest count since March 19, while activated accounts on the Ledger reached 7,856,080.
Solana Overview
Although Solana remains at the forefront in network scale, activity has significantly decreased compared to earlier in the year. The Block reports daily network fees peaked around $500,000 to $638,000 between May 11 and May 14 but plummeted to around $5,120 on May 15 and $4,990 on May 16 due to falling SOL prices.
Despite these fee declines, engagement remains strong. January saw 164.45 million active monthly addresses, which stayed consistent in subsequent months, with May currently at 78.72 million.
Cardano Update
Cardano presents a contrasting picture, with recent data indicating that wallets holding over 1 million ADA collectively represent around 67% of the circulating supply—approximately 25.09 billion ADA. This concentration—at its highest since July 2020—suggests that large holders are accumulating during a period where ADA has lost about 66% of its value year-to-date.
Cardano’s network usage is still underwhelming, as daily active addresses fluctuate between 9,000 and 16,000—a significant drop from about 135,000 recorded in 2024.
Future Catalysts for XRP, Solana, and Cardano
Currently, Solana boasts the strongest on-chain activity, but three key developments could shift momentum towards XRP and Cardano before the year’s end.
XRP: CLARITY Act Impact
After the CLARITY Act passed the Senate Banking Committee, XRP Ledger activity surged, hitting multi-month highs in terms of total activated accounts and new wallets. If the bill gets a full Senate vote and presidential approval before the July 4 deadline, XRP could experience another significant growth phase.
Solana: Expected Alpenglow Upgrade
Solana’s anticipated Alpenglow upgrade aims to dramatically reduce finality time and is considered one of the most awaited updates in 2026. Community testing began on May 11, coinciding with a spike in network fees. If successful, the upgrade may enhance Solana’s dominance in network scale, possibly enabling SOL to reclaim the $100 mark.
Cardano: Ouroboros Leios Testnet
Cardano’s upcoming Ouroboros Leios upgrade aims to boost throughput significantly and enhance transaction capacity. The public testnet is slated for June, followed by a mainnet launch in Q4 2026. If the testing is stable and development progresses on schedule, Cardano could see increased daily active addresses and fee growth, potentially pushing ADA back up to $0.30.
Current On-Chain Momentum
At present, Solana exhibits the strongest on-chain momentum driven by its high network scale and user activity. However, XRP and Cardano have the potential to gain substantial traction if their upcoming developments prove fruitful in 2026.
The market’s reaction to the CLARITY Act, Solana’s Alpenglow upgrade, and Cardano’s Ouroboros Leios Testnet will determine which network benefits most significantly in the upcoming year.
