With more than 1.5 million payments made in a 24-hour period, XRP recently achieved a significant milestone in terms of network activity, breaking a four-month record. On-chain activity is increasing, suggesting a potential discrepancy between usage fundamentals and market sentiment, even though the price action presents a less hopeful picture. From a technical standpoint, XRP has descended from the symmetrical triangle formation that had been forming for weeks.
Since XRP has lost the 200-day moving average’s support, the short-term price outlook is bearish. This type of breakdown typically signals the start of a downward trend. Additionally, the RSI fell below 40, indicating that the bearish momentum is intensifying. Since there is currently little support, XRP might test lower levels in the days ahead if it doesn’t recover quickly.
The ledger, however, presents a different picture even though the chart indicates weakness. Payments have increased significantly according to on-chain data, on June 21 alone over 1.5 million transactions were processed, the most since early 2025. This spike in activity suggests that XRP Ledger is becoming more useful and widely used for actual transactions.
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Since increased usage tends to drive demand, price recoveries have historically frequently been preceded by a sustained increase in network usage. Investors find themselves in a paradoxical situation due to the disparity between technical weakness and on-chain strength. The price is responding to current liquidity flows and market pressures, but the fundamentals are beginning to show signs of recovery.
Despite the current breakdown, XRP may find stable ground and even reverse course if this trend in payment volume continues or increases. Volatility will probably continue to be high in the near future. Nonetheless, if general market conditions level off, the recent surge in XRP Ledger activity could provide a crucial base for future gains for holders who have held the cryptocurrency for a medium to long time.
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