The XRP community remained relatively unfazed by the recent market crash, according to on-chain data.
The XRP Ledger (XRPL) network witnessed slightly higher activity based on a slight spike in the transaction per second (TPS) metric, but there was nothing abnormal.
That said, it is worth noting that the number of daily transactions did top 2 million for the first time since early August on Oct. 11, according to data provided by blockchain explorer XRPScan.
XRP's 50% price crash
On Oct. 10, the price of the token experienced a massive crash, briefly collapsing by more than 50% to just $1.25. The Ripple-linked token reached its lowest level since November 2024 before seeing a sharp recovery.
The token is currently trading at $2.37 on the Binance exchange after several extremely turbulent days.
Trading volume plunges
Even though on-chain activity was relatively calm, XRP experienced huge spikes in trading volumes across major exchanges.
CoinGlass data shows that the intensity of trading activity has now subsided.
For instance, the trading volume recorded by XRP/USDT on Binance, the world's leading exchange, is down by 65%. The same trading pair also logged 73% and 74% drops on Bybit and OKX, respectively.
XRP's open interest keeps plunging
The token's open interest has also plunged since the crash (from the peak of $9.15 billion recorded on Oct. 7 to just $4.2 billion on Oct. 12).
Chicago-based futures trading giant CME Group is currently in the lead in terms of XRP OI with $1.08 billion.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team