XRP Ledger's daily payment volume has fallen by an amount that approaches 90% after a brief spike to more than 600 million XRP on August 7. The drop is steep, but it matches a month of erratic, short-lived volume surges rather than a lasting decline in network use. XRP's price remains under pressure near $1.036, with sellers still benefiting below key resistance.
XRP Ledger's daily payment volume has fallen by an amount that approaches 90% from its August 7 peak, yet the decline primarily reflects normalization from an abnormal spike rather than a disappearance of established transaction demand. Daily payment volume had briefly exceeded 600 million XRP on August 7 before collapsing toward comparatively negligible levels by August 9.
Volume spike unwinds after a familiar pattern
Over the past month, XRP Ledger's payment volume has been erratic, with short-lived spikes followed by returns to baseline activity. August produced another surge, pushing volume to roughly 614.9 million XRP, though neither move sparked a consistent rise in activity. Before the recent drop could point to a structural decline in network usage, XRP Ledger would need to stay at low levels for a significant amount of time.
XRP price stays under pressure
The price of XRP is still under pressure, and XRP is trading at about $1.036 — below every significant moving average on the daily chart. The larger moving averages sit significantly higher, at roughly $1.185 and $1.377. Short-term resistance runs between $1.075 and $1.087, an arrangement that continues to benefit sellers.
$1.00 is the key level to watch
XRP keeps carving lower highs, and its latest attempt to stabilize between $1.05 and $1.10 failed to generate enough momentum for a breakout. Weak momentum is confirmed by an RSI near 40, though the market is not yet oversold. As a result, sellers can still push XRP lower without immediately hitting a technical dead end.
$1.00 is currently the primary threshold for XRP. Holding that level may let XRP keep consolidating and eventually attempt another run toward $1.08 to $1.10. The recent lows between $0.95 and $0.97 would be exposed if that level were lost.
Source: U.Today
Trading involves risk.
Risk Disclaimer
