• XRP's payment volumes are finally back
• XRP keeps moving to lower highs

XRP Ledger has recorded a sharp contraction in payment volume after another temporary burst of unusually high activity. Daily payment volume briefly exceeded 600 million XRP on August 7 before collapsing toward comparatively negligible levels by August 9. From the local peak, the decline approaches 90% and could initially look like a major deterioration in network usage.

XRP's payment volumes are finally back

Over the past month, XRP Ledger's payment volume has been incredibly erratic, with frequent short-lived spikes followed by returns to baseline activity. In August, there was yet another surge. XRP Ledger's volume hit roughly 614.9 million XRP. There was no consistent rise in payment activity as a result of either move. 

This is significant because, rather than the disappearance of established transaction demand, the most recent 90% decline primarily reflects normalization from an abnormal peak. Before the move could plausibly point to a structural decline in network usage, XRP Ledger would need to stay at low levels for a significant amount of time. 

The price of XRP is still under pressure. The price chart paints a worse picture. XRP is trading at about $1.036 and is below every significant moving average displayed on the daily chart. The larger moving averages remain significantly higher at roughly $1.185 and $1.377, while short-term resistance is located between $1.075 and $1.087. Sellers continue to benefit from that arrangement. 

XRP keeps moving to lower highs

Additionally, XRP has been reaching lower highs; however, its most recent attempt to stabilize between $1.05 and $1.10 failed to generate sufficient momentum for a breakout. While weak momentum is confirmed by the RSI at about 40, a heavily oversold market is not indicated. 

As a result, sellers can still drive XRP lower without immediately encountering a technical dead end. The primary threshold is currently $1.00. By holding it, XRP may be able to keep consolidating and eventually attempt another comeback toward $1.08–$1.10. 

The recent lows between $0.95 and $0.97 would be exposed if that level were lost. However, the 90% decline in payment volume should not yet be viewed as a serious warning for XRP Ledger itself. The most recent decline is consistent with the network's current activity pattern, since recent data indicates that these massive spikes have been episodic.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。