What to Know
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XRP Ledger payment volume surged 2,633.3% to 137.7 million XRP, marking a substantial recovery following previously subdued network activity levels.
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Despite the massive increase, XRPL payment volume remains below its 496 million XRP monthly average and historical transaction peaks.
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XRP trades near $1.2879 as bearish pressure persists, with weak buying momentum preventing price recovery despite increased network activity.
XRP Ledger (XRPL) payment volume has increased by 2,633.3% within 24 hours, reaching 137.7 million XRP despite persistent market weakness. According to XRP Ledger data, the increase marks a substantial recovery in network activity following unusually low payment levels, while XRP struggles to recover from recent losses.
XRP Ledger Payment Activity Jumps 2,633% but Remains Below Monthly Average
Recent network data show that XRPL payment volume reached approximately 137.7 million XRP following the substantial daily increase. Despite this improvement, payment activity remains below the network’s 30-day average of approximately 496 million XRP.
Historical records also indicate that XRPL previously recorded payment volumes approaching 7 billion XRP during periods of elevated activity. Throughout the past year, payment volumes have fluctuated considerably, with several sessions recording transfers exceeding 1 billion XRP.
Additionally, the latest percentage increase reflects a recovery from exceptionally low payment activity during the preceding session. Exchange transfers, institutional settlements, and movements between individual accounts can contribute to significant changes in network payment volumes.
XRP Price Remains Under Pressure Despite Network Recovery
Meanwhile, XRP has struggled to match the improvement in network activity, with its market valuation remaining under considerable pressure. TradingView data from October 26 places XRP near $1.2879 following several weeks of declining prices and weakening buying momentum.
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Source: TradingView
The cryptocurrency previously approached $1.58 during September before reversing direction and falling below several important technical support levels. Furthermore, XRP trades beneath multiple moving averages, reflecting persistent bearish pressure across its short-term technical structure. Its Relative Strength Index remains below the neutral 50 threshold, indicating that buying momentum has not recovered.
The latest XRPL payment data highlight a considerable difference between network transaction activity and XRP’s performance across cryptocurrency markets. While payment volume increased significantly, the cryptocurrency remained under selling pressure, preventing a corresponding recovery in its market valuation.
Significantly, the network’s current payment volume remains below historical averages despite the substantial percentage increase recorded within 24 hours. The contrasting figures underline how payment activity can increase independently of XRP’s price movements during periods of market weakness.
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