The 90D-SMA of total fees paid on the XRP network has fallen from 5.9k XRP in Feb 2025 to 0.5k XRP today, a 91.5% decline. A drop of this magnitude is not a fee market adjustment. It reflects a near-total contraction in organic transaction demand on the network since the speculative peak. 📉 http://glassno.de/xrp-fees(glassnode)