XRP Price Drops After 90% Ledger Volume Plunge

XRP's price has stabilized at $1.04 after experiencing a sharp decline in Ledger payment volume, which dropped by approximately 90% from its peak of around 614.9 million XRP on August 7.

This recent surge and subsequent drop is part of a recurring pattern observed over the past month on the XRP Ledger, where brief volume spikes are followed by rapid reversals rather than sustained upward trends in payment activity.

The source suggests that these fluctuations may be due to single institutional transfers or exchange reshuffles, which can produce unusually large payment volume readings.

Experts caution against reading too much into a single volatile metric and recommend examining other indicators such as transaction counts, active accounts, exchange flows, and stablecoin transfers over an extended period to assess the network's health.

Ripple's product range has expanded beyond cross-border payments to include custody services, the RLUSD stablecoin, prime brokerage, and corporate treasury services, with the XRP Ledger targeting tokenized assets, decentralized finance, and an EVM-compatible sidechain.