The XRP Ledger recently witnessed a significant 30% increase in daily payments, pushing total transactions to over 1,050,000 in a single day, as reported by XRPScan. This spike represents an approximate rise of 200,000 payments compared to the previous day, marking one of the most notable on-chain movements in recent weeks.
Despite this surge in network activity, XRP's price remained stagnant, fluctuating between $2.19 and $2.22, and continued to display a bearish trend with lower highs and lows. The lack of parallel increases in spot volume or futures positioning suggests the activity is likely driven by institutional or automated systems rather than retail investor engagement.
Further analysis by XRP ecosystem contributor Vet revealed a concurrent spike in AccountSet transactions, ranging from 20,000 to 40,000, which indicates controlled, deliberate actions such as wallet configuration or infrastructure setup. This pattern contrasts with past incidents like BitGo's script failure and points to preparatory steps for potential liquidity integration.
Exchange flow data showed over 68 million XRP leaving Binance in seven days, while UPbit and Bithumb recorded strong inflows, adding context to the ledger's heightened activity. However, without a price breakout above key resistance levels like $2.33 or $2.50, the market structure remains bearish, underscoring that the transaction spike alone does not signal an immediate reversal.
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