XRP Ledger Payment Volume Plummets by Nearly 90% After August Peak

The XRP Ledger payment volume has dropped sharply after reaching an all-time high in early August. According to recent data, daily payment volume spiked above 614 million XRP on August 7 before retreating by nearly 90% over the following two days.

Experts note that this decline does not necessarily indicate a permanent decrease in user demand, but rather a return to normal levels after an isolated spike. The current drop mainly reflects a normalization of payment volume after an abnormal peak.

The price of XRP continues to face downward pressure, trading at approximately $1.036. This is below all key moving averages and resistance zones, making it more challenging for the token to regain strength.