In the last 24 hours, XRP saw an unprecedented spike of 1,501,797 transactions even as total payment volume plunged to just 193 million XRP, signaling a shift toward small transfers.
Key Takeaways
- On-chain data reveals a sharp spike in transaction count, but total payment volume dropped noticeably, suggesting more small transfers instead of large institutional movements.
- XRP price still consolidates above approximately $3.10, holding near the ascending trendline and flirting with the 26-day EMA.
- Technical setup suggests cautious optimism if volume picks up; otherwise, a break of key supports could prompt a pullback.
XRP’s ledger processed 1,501,797 individual transactions in the past 24 hours, signaling a notable jump in on-chain activity. However, the total payment volume for these transactions dropped significantly to just 193 million XRP, down from previous levels in the hundreds of millions or even billions. This “unusual divergence,” as described in U.Today’s report, indicates that while many participants are active, the transfers are small in size, suggesting fragmented retail activity rather than large institutional flows.
Muted Market Reaction as XRP Holds Steady Near $3.10
As of writing (12:30 PM UTC), Ripple’s token trades at roughly $3.11 with a modest 24-hour gain of about 0.4%, spanning a narrow range between $3.09–$3.14. The anomaly in transaction count has not triggered immediate volatility.
Technical analysis highlighted by U.Today shows XRP holding above $3.10, supported by the ascending trendline and the 26-day EMA. Immediate resistance sits at $3.25, with a more formidable barrier around $3.40. On the downside, a dip below $3.00 risks retesting $2.89 (50-day EMA) and possibly $2.71.
Analysts Eye Micropayments as Possible Driver of Activity
Analysts argue that a spike in transaction count coupled with falling total payment volume usually points to micropayment activity rather than institutional accumulation. Such activity may dilute bullish interpretations, implying speculative experimentation by retail users instead of meaningful capital inflows.
Key Resistance Levels Could Decide XRP’s Next Move
The absence of sustained volume, despite elevated network usage, suggests the market may lack conviction. Historically, rallies of 10%+ require large capital inflows, which are not present here. For now, XRP’s structure remains intact as long as key support levels hold.
What’s Next?
The 1.5M daily transactions highlight rising network use, but the lack of volume raises questions about underlying demand. If institutional players step in reflected in exchange inflows XRP could test $3.25–$3.40 resistance. Conversely, losing the $3.00 handle risks a pullback to deeper supports at $2.89 and $2.71.
Summary
XRP’s ledger hit a record 1.5M daily transactions, yet total payment volume collapsed to just 193M XRP, pointing to micro-driven activity rather than institutional flows. While price stability above $3.10 and the 26-day EMA keeps the technical setup constructive, the absence of large-scale capital reduces conviction in a sustained rally.
For bulls, reclaiming resistance at $3.25–$3.40 with strong exchange inflows would validate upside momentum. For bears, a break below $3.00 risks triggering a retracement to the $2.89–$2.71 support zone. The divergence between high network usage and muted capital flows remains the key dynamic shaping XRP’s near-term trajectory.
