According to data from the XRPSCAN platform on July 18, the trading volume on the XRP Ledger exceeded $1.4 billion, the highest level since February 2025. On that day, nearly 1.5 billion XRP units were circulated, significantly higher than the $1.2 billion from the previous day.
At the same time, the number of daily transactions also skyrocketed, reaching about 1.4 million. This trend shows that user interest in XRP is significantly increasing as this coin benefits from the overall recovery of the cryptocurrency market.
XRP Approaches Historical Peak
XRP's price has recently experienced impressive growth, nearing the peak of $3.84 set in 2018. This surge not only led to an increase in trading but also came with notable actions from 'whales'.
Specifically, the cryptocurrency wallet owned by Ripple co-founder Chris Larsen transferred $26 million XRP to Coinbase on Tuesday, coinciding with XRP's peak in the past 7 months.
Large Transactions Raise Concerns About Selling Pressure
Although it is unclear whether Chris Larsen sold the aforementioned XRP, large transactions transferring tokens to centralized exchanges are often suspected to be for selling.
This has raised concerns among many investors about potential short-term profit-taking selling pressure, although the overall trend remains positive.
This surge in on-chain activity clearly indicates a revival of the XRP ecosystem,” a analyst noted.
