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With the crypto market flipping positive as prices of major cryptocurrencies record notable daily gains, XRP has seen the trend extend to both its price and on-chain activity.
On-chain data from XRPSCAN shows a dramatic surge in XRP Ledger payment volume.
As of June 23, data shows that the payment volume on the XRP Ledger rose from 454.85 million the previous day to a massive 681.95 million today.
This marks a 49.91% increase in XRP payment volume over the last 24 hours, suggesting a rise in cross-border transactions involving the token and growing institutional interest in XRP’s payment solutions.
While the exact reason behind this surge remains unclear, there is speculation that it may be tied to internal exchange transfers or possible rebalancing strategies from XRP-focused institutions.
With this increase in on-chain activity coinciding with a notable rise in XRP’s market value, it appears the token is regaining momentum, reflecting renewed investor interest. This signals growing confidence in XRP not only as a payment tool but also as an efficient investment option.
ETF buzz sparks optimism
XRP payment volume spike is largely attributed to the buzz surrounding the XRP ETF debut in North America.
Following its listing on the Toronto Stock Exchange, the 3iQ XRP ETF has gained notable traction, emerging as Canada’s largest XRP-focused exchange-traded fund. The token, currently the third-largest by market capitalization, has become a key point of attention in recent days.
This momentum has also raised expectations for a potential XRP ETF approval in the U.S., significantly boosting investor sentiment, capital inflows, and market value.
As a result, investors are increasingly confident that XRP could be poised for a major price explosion in the near term, driven by strong on-chain activity and institutional engagement.
Meanwhile, XRP is showing bullish momentum, with its price surging 5.52% over the last 24 hours. As of press time, the token is trading at $2.08.