XRP Ledger payments surge 200% to 291M as network activity rebounds

XRP Ledger daily payment volume rose more than 200% to 291 million XRP on July 14, recovering from muted levels seen earlier this month, per XRPL network data.

The increase follows a period of exceptionally low network activity, when payment volumes had dropped sharply from the significant peaks recorded over the prior 12 months, including the surge observed at the start of July, according to XRPL blockchain data.

XRP traded near $1.07, still below its 50-, 100- and 200-day moving averages, which continue to reflect a bearish structure. Short-term moving averages have rejected every recent attempt at a recovery. Trading volume remains relatively low, suggesting market participants have not fully embraced the latest network growth figures.

The relative strength index sits near the neutral-to-oversold zone, indicating the asset is no longer overheated. If broader market conditions improve, the combination of stabilizing network activity and a reset RSI could create conditions for a recovery. Traders will likely need to see sustained growth in payment volume, increased trading activity and a break above key moving averages before treating the metric as a genuinely bullish catalyst.

Network Metrics in Context

The 200% rebound in payment volume comes after a period when XRP Ledger activity had fallen to unusually low levels. While the percentage increase appears significant, the absolute volume of 291 million XRP remains below the peaks recorded earlier this year. Network metrics often improve before price responds, particularly when sentiment has turned overly negative, according to historical patterns on the XRP Ledger. Bitcoin dominance has remained elevated near 54% in recent weeks, drawing capital away from altcoins including XRP, which has underperformed relative to the broader crypto market.

Price Action and Technical Picture

XRP's price has been in a steady downtrend on the daily chart, with the asset trading below all three major moving averages. The 50-day moving average has acted as resistance during recent recovery attempts, while the 100- and 200-day averages continue to slope downward. The low trading volume accompanying the recent price action suggests aggressive accumulation has not yet begun. For a sustained reversal, XRP would need to reclaim the $1.15 level and register a daily close above the 50-day moving average, which currently sits near $1.12.

This article is for informational purposes only and does not constitute investment advice.