XRP Ledger’s payment volume has plunged by approximately 90% after hitting a peak of 614.9 million XRP on August 7, before falling back to negligible levels by August 9. XRP is currently trading around $1.036, below all significant moving averages on the daily chart, with short-term resistance between $1.075 and $1.087 and a key support level at $1.00. Recent lows stand between $0.95 and $0.97. However, this massive contraction does not constitute a warning sign for the network, as it reflects normalization from an abnormal peak rather than a structural decline in XRP Ledger usage.
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