XRP Rally Fails to Lift Payment Volume as Metric Declines 70%

The broad crypto market rebound that has fueled a rally for $XRP’s price has failed to extend its strong momentum to the $XRP Ledger as on-chain payment activity on the ledger has declined significantly.

While $XRP has recently suspended its prolonged price dip, payment activities still remain weak as data from XRPSCAN shows that the payment volume on XRPL has declined to 230,838,816 $XRP as of March 5, 2026.

Notably, this marks a more than 70% decrease from the 769 million $XRP volume it achieved in the previous day, representing a major divergence between $XRP’s price action and network usage.

$XRP reclaims $1.47

While $XRP’s price move is yet to reflect on its payment volume, the asset has recorded a nearly 10% increase in price in just a single day.

The contrasting metrics has sparked curiosity about whether $XRP is headed for a major recovery or the rally will be short-lived.

While it has reached its highest weekly level of $1.47 during the rally, $XRP has retained the positive price momentum and has surged 1.78% over the last day, trading at $1.42 as of writing time.

After revisiting local lows around $1.27, the unexpected intervention of bullish traders — which saw market sentiments flip to the positive side — have stirred confidence among investors, who are still optimistic for a bigger price move.

Nonetheless, the slow performances seen among key on-chain metrics like the payment volume, network activity, institutional participation and more have triggered curiosities about the sustainability of the price rally.

$XRP futures slow on Coinbase

While $XRP has also flipped positive across its derivatives market, with its total open interest surging past $2.36 billion, futures traders on Coinbase have closed their positions during the period.

Data from CoinGlass shows that $XRP open interest on Coinbase has declined by 3.62%, suggesting that American traders are less willing to stake their holdings ahead of a potential price upswing.