The hype around XRP’s recent price surge might be hitting a wall as on-chain data flashes warning signs. The XRP Ledger’s daily payment volume, a key indicator of network activity, has dipped below the $1 billion mark, landing at roughly 986 million as of July 28. This is a stark drop from the consistent multi-billion-dollar volumes we saw over the past three weeks, raising concerns about fading momentum.
Network Activity Losing Steam
This decline in payment volume reflects how much XRP is moving between accounts. A sharp fall like this often points to waning institutional interest and reduced user engagement. Simply put: less money is flowing, and enthusiasm seems to be drying up. On the technical side, things aren’t looking rosy either. After peaking at $3.70, $XRP
price has slid to around $3.16. The once-explosive rally is stalling, with trading volume forming a descending pattern—a textbook sign of market exhaustion. The RSI (Relative Strength Index) is still in overbought territory, hinting that without fresh demand, a bigger pullback could be on the horizon.
What’s Behind the Slowdown?
XRP isn’t alone in this slump. Most altcoins, barring outliers like $ETH and $SOL , are seeing a dip in interest. The drop in XRP’s payment volume likely stems from both weakening fundamentals and a broader market cooldown. Total trading volume across the crypto market is shrinking, signaling that investors are either pulling out of altcoins or sitting on the sidelines, waiting for clearer signals.
Can XRP Bounce Back?
For XRP to avoid a deeper correction, it needs a serious boost in network activity and liquidity. Without renewed interest from high-volume traders, the recent bull run risks becoming just another false breakout. Falling out of the “billionaire club” of daily payment volumes is a red flag, and unless something shifts soon, XRP’s rally could come to a premature end.
The clock’s ticking—XRP needs to regain its spark, or the bulls might be left in the dust.
