- XRP price rebounds strongly while XRPL payment volume plunges sharply overnight.
- Network activity drops over 70% despite XRP market recovery.
- Traders watch XRP closely as on-chain usage weakens during price rebound.
The broader cryptocurrency market recovery has helped push XRP higher in recent trading sessions, yet activity on the XRP Ledger has moved sharply in the opposite direction as on-chain payment volume dropped significantly despite improving market sentiment. While traders returned to the market and lifted the asset’s price after several days of weakness, the latest network data indicates that transactional usage across the XRP Ledger has not followed the same upward trend.
XRPL Payment Volume Drops Sharply Within 24 Hours
According to data from XRPSCAN, the XRP Ledger recorded payment volume of approximately 230,838,816 XRP on March 5, 2026, a figure that reflects a dramatic decline compared with the activity recorded during the previous day. The network had processed roughly 769 million XRP in payments only one day earlier, which means the latest reading represents a decline of more than 70% in a very short time frame.
Consequently, this sudden drop in payment activity has created a noticeable divergence between XRP’s improving market performance and the actual level of network usage taking place on the blockchain. Market observers often track this metric closely because payment volume can provide insight into the underlying demand for a network’s infrastructure and its real transactional use.
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XRP Price Recovers as Market Sentiment Improves
Meanwhile, XRP’s market price moved in the opposite direction during the same period as the token participated in the wider cryptocurrency market rebound that supported several major digital assets. Market data shows that XRP surged by nearly 10% within a single day as buying activity accelerated following the recent market dip.
Additionally, XRP briefly reached a weekly high of around $1.47 during the rally, demonstrating renewed momentum after the asset had previously traded near local lows. At the time of writing, XRP continued to hold most of those gains and traded close to $1.37 after recording a daily decline of approximately 4.48% as per CoinMarketCap data.
Besides the price recovery, the rebound also influenced short-term sentiment across the XRP market as investors reacted to the sudden return of bullish momentum following the earlier decline toward the $1.27 level. Consequently, many traders regained confidence that the asset could stabilize after the recent volatility.
XRP Derivatives Market Shows Mixed Signals
However, the divergence between market price and network activity becomes clearer when derivatives data is considered. According to data from CoinGlass, the total open interest tied to XRP derivatives across exchanges has climbed above $2.36 billion, which reflects increased speculative positioning as traders respond to the recent price rebound.
However, futures traders on Coinbase appear to be taking a more cautious approach during the same period. CoinGlass data shows that XRP open interest on Coinbase declined by approximately 3.62%, which suggests that some United States-based traders reduced exposure despite the improving price trend.
Additionally, lower derivatives activity from a major exchange may signal hesitation among certain institutional participants as traders continue evaluating whether the recent rally can maintain momentum in the near term.
XRP’s latest rebound highlights the growing gap between improving market prices and weakening on-chain payment activity across the XRP Ledger. Consequently, traders and analysts continue monitoring whether network usage will recover and eventually align with the renewed bullish momentum in the market.
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