The XRP Ledger (XRPL) has achieved a significant milestone in on-chain activity, processing a record nearly 1.9 million transactions per day, marking an all-time high. This surge underscores robust network demand, driven by major players and automated payment systems.
Concurrently, the XRPL has emerged as a major player in the tokenized real-world asset (RWA) sector. The network now holds $1.4 billion in RWA value, representing a 266% increase over the past month, outpacing growth on Ethereum and Polygon. Ripple's Luke Judges confirmed the figure has already doubled to $2 billion, attributing the delay in reporting to indexing issues from RWA.xyz.
Despite this fundamental growth, the price of XRP is experiencing a stark disconnect. The cryptocurrency's value has been declining, breaking through key support levels and trading within a descending price channel. Technical indicators point to a bearish short-term outlook, with major moving averages acting as resistance and thwarting recovery attempts.
However, market data reveals a nuanced picture. XRP's current market price of $1.48 remains above its realized price—the average cost at which holders acquired their tokens. This indicates that most holders are still in profit despite recent pullbacks. Analysis shows investors with a 1-week to 1-month holding period are accumulating below the cost basis of the 6–12 month cohort, a pattern similar to February 2022, suggesting building market pressure and demand.
