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With payment volume surging by almost 10x over its baseline earlier in the cycle, the most recent XRP Ledger metrics indicate one of the strongest on-chain expansions the network has witnessed in months. The metric jumped to 1.35 billion XRP transferred in a single day, marking a surge far above the typical 150-200 million range seen through November.
What this growth actually means, and whether it affects XRP's price — which is still struggling inside a clearly defined declining channel — are the questions.
On-chain metrics: Real activity
Through November, the payment-volume chart displays a very steady increase that ends in a nearly vertical spike. The pattern, which is probably related to institutional settlement, liquidity routing or automated high-volume flows across exchanges and custodial services, indicates widespread network usage rather than a single isolated whale.
This type of steady rise in XRPL throughput has historically preceded XRP market liquidity expansions, though price appreciation has not always happened right away. Another important point: the jump is accompanied by rising volatility in the payment-count chart, meaning the network is not just moving larger sums —more users and more accounts are participating. That is usually a stronger long-term bullish signal than simple volume spikes.
Not yet for price
The XRP chart is still extremely pessimistic despite the on-chain strength. Once more, the price rejected the descending-channel midline and was unable to maintain momentum above about $2.15. Selling pressure hit immediately afterward, dragging XRP back toward the lower boundary of the pattern.
The EMAs reinforce the story:
- 50 EMA is below 100 EMA (mini-death cross recently verified).
- Price below all major moving averages.
- RSI is barely maintaining its mid-40s, momentum is lacking.
Short-term price volatility persists. Falling out of the channel again would open the door to $1.90-$2.00. But in the medium term, the network's activity spike is meaningful; networks rarely expand this aggressively without eventually pulling the asset upward.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team