Decrease in XRP Ledger Transaction Count Coincides with a 521% Increase in Volume

The payment volume in the $XRP Ledger has increased by 521.1%, and this rise coincides with an overall improvement in the cryptocurrency sector.

Currently, the payment volume on XRPL stands at 488.4 million $XRP. However, it is important to correlate the movement of a larger number of $XRP with the payment volume, as the latter metric is crucial.

The current number of payment transactions is 388,900, which is 10.5% less than in the previous period, while the payment volume increase reached 521%. This discrepancy points to a significant increase in the average payment size.

The increased activity on XRPL is also confirmed by other indicators: the number of new accounts increased by 5.3% to approximately 1,800, the number of active users grew by 179.7% to approximately 485,700. Transaction fees for $XRP increased by 16.1%. At the same time, the number of active accounts decreased by 0.7% to 11,300.

Regarding the price of $XRP, the token is currently holding above the long-term moving average around $1.35. Consolidation above this level will help maintain the breakout structure. It is worth noting that the Relative Strength Index (RSI) briefly rose above 80 before declining to 70.5.

A 521% increase in payment volume is certainly noteworthy; however, this figure does not indicate a sixfold increase in XRPL usage. A decrease in transaction count alongside an increase in their value suggests activity by large holders.