XRP Volume Hits Historic Lows Amidst High Prices

XRP's trading volume has plummeted to its lowest levels since before January 2018. A chart mapping monthly XRP volume against major milestones in Ripple's history shows a stark decline. The chart covers nearly a decade of XRP's history, with each milestone marked by a reaction from traders.

Despite the previous all-time high in January 2018, and subsequent launches like ODL and xRapid in October 2018, XRP volume remained elevated. However, the SEC lawsuit in December 2020 triggered an explosion of trading activity, with peak volumes recorded in late 2020 and early 2021.

Since then, each positive development, including the release of Hinman Documents, Judge Torres' ruling that XRP is not a security, and the launch of RLUSD, has been met with only brief increases in volume. As of September 2026, trading activity remains at historic lows relative to price.

Dark Defender noted, 'XRP has never been this quiet at such a high price.' The chart raises questions about who is buying XRP amidst these low volumes, and whether the current trend will continue or reverse course.