Daily payment volume on the XRP Ledger exceeded one billion XRP at the beginning of August before dropping by approximately 90% to around 100 million XRP within a single day, illustrating the network’s erratic activity. This dramatic decline suggests that the initial spike was likely caused by a one-time transfer rather than sustained organic demand. XRP is currently trading around $1.07, with the 50-day exponential moving average acting as resistance at $1.10, while the RSI at 44 indicates minimal buying pressure. Immediate support sits between $1.05 and $1.06, a critical level whose breach could push the price toward the psychological $1.00 mark. The decline in payment volume highlights a recurring theme on the XRP Ledger: large one-time transfers can generate eye-catching figures but are unlikely to shift market sentiment unless they result in consistently high network activity.
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