The XRP Ledger recorded an abnormal surge in AccountSet and AMM Bid transactions this week, triggering widespread discussion across crypto Twitter. The ledger processed more than 40,000 AccountSet transactions in late November, marking its highest configuration activity in years. The activity continued even after BitGo ended its batch updates. This indicates new actors are preparing or reconfiguring large numbers of accounts, rather than routine custodial adjustments. What the AccountSet Surge Indicates AccountSet transactions update settings, including security flags, AMM (Automated Market Maker) permissions, and multi-sig configurations. They are typically used when institutions prepare accounts for new services or liquidity operations. Therefore, a spike of this magnitude suggests structured onboarding. Analysts believe this may involve custodians, market makers, or automated systems configuring XRPL accounts at scale. The pattern resembles network preparation rather than retail behavior.  Previous spikes linked to custodial maintenance did not reach current levels, reinforcing the view that new participants are entering the network. AMM Bid Activity Signals Liquidity Positioning in XRP AMM Bid transactions also surged after November 23. These transactions help liquidity providers bid for AMM auction slots and position themselves within XRPL’s automated market-maker pools. The sharp rise suggests liquidity actors are preparing to secure early positions. Early bids often capture the most profitable rewards, making the timing significant. The AMM spike coincides with broader XRPL developments. RLUSD approvals, AMM rollout progress, and institutional onboarding have all accelerated in recent weeks. This offers a possible explanation for the sudden liquidity movement. XRP ETF Inflows Add Another Layer of Context The surge also follows the debut of spot XRP ETFs in the United States. The products accumulated $643.92 million in net inflows and reached $676.49 million in total ETF assets.  Inflows increased on nine of the last ten sessions, showing strong institutional demand. While ETF inflows do not directly interact with the XRP Ledger, they influence how custodians manage XRP storage and security.  Large ETF demand can trigger new institutional custody accounts, reconfigured storage systems, expanded wallet infrastructure, and preparation for higher settlement activity. These processes often involve AccountSet transactions.  Therefore, the ETF wave may be indirectly contributing to the configuration spike. Spot XRP ETF Performance in November 2025. Source: SoSoValue Implications for the Market The combined surge in configuration and AMM activity signals structural preparation beneath the XRP ecosystem. This type of activity often precedes network upgrades, liquidity expansion, or new institutional pipelines. Although XRP price remains volatile, the ledger’s data suggests increasing backend activity. Market watchers view the patterns as early indicators of broader engagement, rather than isolated anomalies. For now, developers have not commented publicly.  However, the coordinated rise in AccountSet and AMM Bid transactions points to meaningful infrastructure changes underway on the XRP Ledger.The XRP Ledger recorded an abnormal surge in AccountSet and AMM Bid transactions this week, triggering widespread discussion across crypto Twitter. The ledger processed more than 40,000 AccountSet transactions in late November, marking its highest configuration activity in years. The activity continued even after BitGo ended its batch updates. This indicates new actors are preparing or reconfiguring large numbers of accounts, rather than routine custodial adjustments. What the AccountSet Surge Indicates AccountSet transactions update settings, including security flags, AMM (Automated Market Maker) permissions, and multi-sig configurations. They are typically used when institutions prepare accounts for new services or liquidity operations. Therefore, a spike of this magnitude suggests structured onboarding. Analysts believe this may involve custodians, market makers, or automated systems configuring XRPL accounts at scale. The pattern resembles network preparation rather than retail behavior.  Previous spikes linked to custodial maintenance did not reach current levels, reinforcing the view that new participants are entering the network. AMM Bid Activity Signals Liquidity Positioning in XRP AMM Bid transactions also surged after November 23. These transactions help liquidity providers bid for AMM auction slots and position themselves within XRPL’s automated market-maker pools. The sharp rise suggests liquidity actors are preparing to secure early positions. Early bids often capture the most profitable rewards, making the timing significant. The AMM spike coincides with broader XRPL developments. RLUSD approvals, AMM rollout progress, and institutional onboarding have all accelerated in recent weeks. This offers a possible explanation for the sudden liquidity movement. XRP ETF Inflows Add Another Layer of Context The surge also follows the debut of spot XRP ETFs in the United States. The products accumulated $643.92 million in net inflows and reached $676.49 million in total ETF assets.  Inflows increased on nine of the last ten sessions, showing strong institutional demand. While ETF inflows do not directly interact with the XRP Ledger, they influence how custodians manage XRP storage and security.  Large ETF demand can trigger new institutional custody accounts, reconfigured storage systems, expanded wallet infrastructure, and preparation for higher settlement activity. These processes often involve AccountSet transactions.  Therefore, the ETF wave may be indirectly contributing to the configuration spike. Spot XRP ETF Performance in November 2025. Source: SoSoValue Implications for the Market The combined surge in configuration and AMM activity signals structural preparation beneath the XRP ecosystem. This type of activity often precedes network upgrades, liquidity expansion, or new institutional pipelines. Although XRP price remains volatile, the ledger’s data suggests increasing backend activity. Market watchers view the patterns as early indicators of broader engagement, rather than isolated anomalies. For now, developers have not commented publicly.  However, the coordinated rise in AccountSet and AMM Bid transactions points to meaningful infrastructure changes underway on the XRP Ledger.