XRP Ledger Sees 386% Surge in Payment Volume

The $XRP Ledger has seen a dramatic resurgence in activity, with payment volume spiking 386% over the last 24 hours. This surge brings daily payment volume to approximately 583.3 million $XRP, indicating a strong recovery from a notably weak period.

Despite this substantial increase, the current figure remains slightly below the 30-day average of around 638 million $XRP. The 386% jump appears so significant because it rebounded from an unusually low starting point. Nonetheless, the recovery has brought payment volume closer to its typical range.

Historical data shows that daily payment volumes on the $XRP Ledger have frequently exceeded one billion $XRP, with some spikes even surpassing two billion. The all-time high stands near seven billion $XRP. While the latest reading of 583 million $XRP is not exceptional by historical standards, the rapid rebound is noteworthy.

Meanwhile, $XRP's price is holding steady at approximately $1.51. The asset has been consolidating following its breakout in September, when it rose from around $1.30 to $1.60. Recent price action has been confined to a narrow range between $1.48 and $1.53, despite failed attempts to resume the rally.

Technically, $XRP remains in a strong position, trading above its short-term moving average around $1.45 and well above longer-term averages around $1.35, $1.40. The Relative Strength Index (RSI) indicates a neutral-to-bullish market. For further gains, $XRP needs to reclaim $1.55 before challenging the major resistance zone at $1.60, $1.65. Conversely, a drop below $1.45 would weaken the current setup.

The 386% payment-volume recovery provides a positive on-chain signal, but a single day's data does not establish a trend. Sustained volumes above the 30-day average would offer stronger confirmation that $XRP Ledger activity is genuinely accelerating.