XRP Payment Volume Plummets 70% Despite Price Surge

2026-03-06 17:15

XRP's recent price rally, which saw the cryptocurrency climb nearly 10% to reach $1.47, has not been mirrored by its on-chain payment activity. Data from XRPSCAN reveals a significant decline in XRP Ledger's payment volume, dropping over 70% to 230,838,816 XRP as of March 5, 2026, from the previous day's 769 million XRP. This divergence highlights a disconnect between XRP's price action and its network usage. Despite the price increase, XRP's futures market on Coinbase has seen a decline in open interest by 3.62%, indicating cautious sentiment among American traders. The broader crypto market rebound has fueled optimism, but the sustainability of XRP's price rally remains uncertain amid weak on-chain metrics.

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