As the price of the crypto XRP attempts to extend a recent rebound, activity on its network is dropping sharply. This divergence between market and real use weakens the current dynamic and questions the solidity of the movement. On-chain data therefore provides a signal that investors cannot ignore.
In brief
- XRP evolves in a context of divergence between its price and the real activity of its network.
- Payment volume on the XRP Ledger drops sharply by 77% in just 24 hours.
- This drop marks the lowest level of activity observed over the last seven days.
- The price of XRP is showing signs of running out of steam despite an attempt to rebound.
A collapse of payments on the XRP network
XRP Ledger activity saw a dramatic decline in the space of 24 hours. The available data shows a sudden drop in the volume of transactions, with a key indicator that directly concerns market observers.
So, the volume of XRP on-chain payments has fallen significantly by around 77% in the last 24 hours. This sudden contraction contrasts with the expectations of a market which was rather monitoring a continuation of the rebound in XRP.
Here are some significant elements :
- A 77% drop in payment volume in 24 hours;
- Around 86 million payments recorded;
- This is the lowest level observed over the last 7 days.
Such a fall over such a short period reflects a marked slowdown in transactional activity. This indicator, often used to measure the adoption and actual use of a blockchain, reveals a potential misalignment between market perception and the reality of use of the XRP network in the short term.
A rally weakened by a lack of support
At the same time, the price of Ripple's crypto is showing signs of running out of steam. After an initial increase of close to 1%, the momentum quickly came to an end, giving way to an almost neutral performance over the day.
The market is unable to transform the initial impulse into a real trend. This situation takes place in a context where XRP seems to have interrupted its recovery attempt, reflecting a lack of continuity in buying pressure.
Such fragility is reinforced by the overall reading of the market, where certain technical and fundamental signals converge towards increased caution. The resistance level around $1.35 remains a difficult threshold to cross, which limits immediate prospects for progress. The rapid reaction of the price to this threshold testifies to a still unstable balance between buyers and sellers.
The combination of a network slowdown and a price without real momentum raises the question of the strength of the bullish scenario. Such network weaknesses could send a bearish signal on the price of XRP. This divergence between actual use and valuation may herald a simple slowdown or, conversely, precede a more marked adjustment. The evolution of the coming days will be decisive in knowing whether XRP can revive its momentum or whether it enters a deeper consolidation phase.
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