XRP Ledger payment volume plunges 70% as network activity weakens
In brief
- XRP Ledger processed 312.8M tokens in daily payments, down from 1B+ earlier this month
- Network activity dropped 70% from recent highs, reflecting weakening transactional demand
- XRP trades below major moving averages, stuck in downtrend despite modest technical relief
Network Activity Deteriorates
XRP Ledger's daily payment volume decreased to 312.8 million XRP, according to on-chain data. The network processed approximately 438,000 transactions in the same period. The figures represent a sharp contraction from earlier in the month, when payment volume exceeded 1 billion XRP.
Network activity has dropped by over 70% from recent highs. Payment activity on blockchains reflects real account transfers rather than speculative trading, making it a crucial health indicator for any ledger. Declining volumes suggest the XRP Ledger's core utility—its foundational use case—is under pressure.
Technical Positioning Remains Weak
XRP is trading at approximately $1.10, positioned below all major moving averages on its price chart. The 26-day EMA sits near $1.11, serving as immediate resistance. The 50-day EMA is located at approximately $1.14, while the 100-day and 200-day moving averages remain much higher at about $1.25 and $1.46, respectively.
XRP is still in the midst of a well-established downward trend. Every attempt at recovery over the past few months has failed before reaching higher resistance zones. The RSI indicator is now close to 49, indicating that selling pressure has lessened—a modest technical bright spot, though it hasn't yet translated into meaningful upside momentum.
Fundamental Headwinds
The collapse in payment volume raises questions about the adoption narrative that has underpinned XRP investor sentiment for years. XRP has little fundamental support as it tries to stabilize above the psychologically significant $1 level, because declining payment volume and weakening transactional activity indicate that the ledger's core usage is still under pressure. Without a recovery in real network usage, the token's path to higher price levels remains constrained.
