XRP Payments Fall 77% as Price Eyes End to Rally

The crypto market is showing mixed price action, and $XRP has suddenly flipped negative, fueling a downturn in its on-chain activity.

While momentum appears to be weak, $XRP has seen a notable decline in its payment volume on $XRP Ledger, sparking concerns among investors.

$XRP payment volume drops to 86 million

Data from XRPSCAN shows that the $XRP on-chain payment volume has plunged significantly by about 77% over the last 24 hours.

The metric saw $XRP only record about 86 million payments from one account to another on $XRP Ledger as of Saturday, April 11.

The decrease marks the lowest level the $XRP payment volume has reached in the last seven days, signaling fading momentum as $XRP continues to trade below $1.35.

Considering its weak price move, the plunge in the $XRP payment volume has attracted the attention of market watchers, as network weaknesses like this could be flashing a bearish price signal.

$XRP halts rally

The 77% decline in the $XRP payment volume is more concerning as it has been accompanied by a sudden switch in investors' sentiment, which saw $XRP’s price turn flat in mere minutes.

Earlier today, $XRP was trading in the green territory with a decent price increase around 1%. However, it appears to have suspended its recovery attempt, nearly flipping back to the downside with a flat price move of 0.1% over the last 24 hours.

As $XRP shows no promising price move, the declined payment volume has further sparked fear among investors, suggesting that another volatility session might be imminent.