XRP Ledger network activity rebounded sharply with payment volume climbing 2,633.3% within 24 hours to 137.7 million XRP, according to on-chain data published on October 26. The jump marked a recovery from unusually low payment levels in the prior session, though the figure remained below the 30-day average of roughly 496 million XRP and far under historical peaks near 7 billion XRP.
Despite the network recovery, XRP price weakened further. TradingView data placed XRP near $1.2879 after a multi-week decline, while CoinMarketCap showed the token down 2.83% over 24 hours to about $1.28. The daily close below the $1.29391 support level shifted short-term sentiment, as traders monitored the $1.28-to-$1.25 zone and the October low near $1.256.
Market observers attributed the pressure to a broader risk-off mood, pointing to significant Bitcoin ETF outflows and weak technology stocks. On the daily chart, XRP remained below the Ichimoku cloud, with resistance from the conversion line near $1.3277 and the cloud spanning roughly $1.3683 to $1.4524. The Relative Strength Index read 37.49, below its average and the neutral 50 mark, indicating soft momentum without an oversold signal.
Analyst EGRAG Crypto highlighted the $1.24-to-$1.25 area as a structural line in the sand, citing double-bottom wicks and a bullish cross of the 100-day and 200-day exponential moving averages. EGRAG favored trading the range toward $1.45 to $1.47 while support holds, but warned that a sustained daily close below $1.24 could lead to months of consolidation. The contrast between rising payment volume and falling price underscores how network activity can increase independently of token valuation during market weakness.
