Crypto Markets Show Signs of Fatigue as Ethereum and XRP Activity Plunge

Crypto markets are showing signs of fatigue as key activity metrics for Ethereum and XRP reach multi-month lows.

Ethereum's on-chain spot trading volume has dropped 76% from its all-time high in August 2025, falling to a level last seen in October 2023. Meanwhile, XRP has entered a phase of unusually low price swings on major platforms such as Binance, with its realized volatility reaching a three-month low.

The combination of declining volume and compressed volatility often signals either a period of consolidation or the potential for an eventual breakout once liquidity returns.