XRP Ledger Payment Volume Surges 140% as User Activity Increases
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Surge in Payment Volume: The XRP Ledger recorded over 1.37 billion XRP in payments within 24 hours, reflecting a 140% increase, indicating a significant rise in user engagement and suggesting the network is attracting more participants.
- Increase in Transaction Count: The simultaneous rise in the number of transactions between accounts is considered a strong indicator of genuine network use, showing that the growth was driven by widespread user activity rather than isolated large transfers.
- Ongoing Price Pressure: Despite the uptick in network activity, XRP's price remains under pressure, trading below several key moving averages, with current levels indicating stabilization near long-term support, highlighting a divergence between price performance and network fundamentals.
- Potential Accumulation Signals: Amid a broader market downturn, XRP's network continues to show strong usage signs, with sustained transaction counts suggesting positioning by institutional holders rather than abandonment, indicating that the groundwork for a potential price recovery could be solidifying.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
