Daily payment transactions on the XRP Ledger have rebounded above the psychologically significant 1 million mark, reversing a mid-May decline that had pushed activity toward 700,000. This on-chain recovery comes as network usage metrics stabilize, signaling that transactional demand remains robust even as the broader altcoin market struggles.
Simultaneously, Santiment data reveals that the average XRP trader active over the past 30 days is down approximately 47%, with many short-term holders selling near the bottom. The 30-day Market Value to Realized Value (MVRV) ratio has plunged to its lowest level since December 2020, a zone historically associated with extreme undervaluation. Santiment notes that such deeply negative MVRV readings tend to revert toward zero over time, marking the current window as an extreme opportunity zone.
On the price chart, XRP remains under pressure near $1.30, trading below both the 50-day and 100-day moving averages, which continue to act as dynamic resistance. Momentum indicators like the Relative Strength Index (RSI) remain muted, suggesting buyers have not yet regained control. However, the combination of rebounding ledger activity and capitulation-level sentiment often precedes accumulation phases, hinting at a potential base formation.
Separately, the XRP Ledger Foundation has activated the Fix amendment (fixCleanup3_1_3) in version 3.1.3, which delivers improvements for NFTs, Permissioned Domains, Vaults, and the Lending Protocol. A new XRP Ledger Standard for Automated Market Maker (AMM) v2 was also unveiled, introducing StableSwap and Concentrated Liquidity pool curves to boost capital efficiency and stabilize pricing for stablecoins, foreign exchange markets, and real-world assets on the XRPL DEX.
