XRP Ledger Payment Volume Surges 207% to 1.16 Billion XRP as Price Nears $1

In Brief:

• XRP Ledger payment volume surged 207.4% to 1.16 billion XRP, nearly doubling its 30-day average of 580.6 million XRP.
• Historical payment activity reached 1.9 billion XRP in September, while November figures indicate another temporary increase in network transactions.
• XRP traded near $1.09 amid growing selling pressure, raising concerns about a potential breakdown below the critical $1 support level.

XRP Ledger recorded a substantial increase in payment activity on November 9, despite XRP facing growing selling pressure across cryptocurrency markets.

According to XRPScan data, the network processed 1.16 billion XRP in payments, marking a 207.4% increase within 24 hours and nearly doubling its 30-day average of 580.6 million XRP. Meanwhile, XRP traded around $1.09, bringing the cryptocurrency closer to the psychologically important $1 support level.

XRP Ledger Payment Activity Exceeds Monthly Average Amid Market Volatility

The November 9 increase follows several periods of elevated transaction activity across the XRP Ledger during recent months. On October 30, payment volume reached approximately 1.8 billion XRP, exceeding the latest recorded figure.

Similarly, September 25 recorded approximately 1.9 billion XRP in payments, demonstrating that substantial transaction volumes are not unusual. These figures remain below the network’s historical peak of approximately 7 billion XRP.

October presented a different pattern, with payment activity frequently struggling to exceed 800 million XRP. Notably, transaction volume approached zero on October 24 before recovering during subsequent trading sessions.

Besides these historical comparisons, the transition from weekend trading into Monday may have contributed to increased network activity. By November 10, payment volume had declined toward 300 million XRP, suggesting the previous increase could prove temporary.

XRP Price Approaches $1 as Network Transactions Increase

Despite growing blockchain activity, XRP’s market performance remains under pressure following several weeks of declining cryptocurrency prices. The asset traded around $1.09, placing its $1 support level within reach.

A breakdown below this threshold could expose XRP to additional selling pressure as broader market conditions remain weak. Previously, XRP briefly traded below $1 during August, following an extended period above that level since November 2024.

Meanwhile, increased payment activity could reflect investors transferring assets between wallets and cryptocurrency exchanges during heightened market uncertainty. Nevertheless, transaction statistics alone cannot establish whether these movements represent selling activity.

Additionally, the divergence between rising network payments and declining prices highlights the distinction between blockchain activity and market demand. The latest figures demonstrate increased XRP Ledger usage, while XRP’s proximity to $1 remains an important indicator of market conditions.