XRP network activity nosedives as payments collapse by 70%
Network activity on the XRP Ledger experienced a severe contraction on Thursday, June 26, plunging to its lowest level since June 8. According to data reviewed by Finbold on XRPScan , the total daily payment transactions between accounts dropped sharply from around 1.4 million on Wednesday to just 590,072 as of publication, representing a dramatic pullback in transactional activity. XRP network activity payments. Source: XRPScan This drop-off in network usage is not an isolated metric. XRP also saw the lowest number of new accounts activated since October 26, 2024, falling to just 1,474 activations, a significant milestone, given that daily activations hadn’t dipped below 2,000 since November of the prior year. XRP payment activity Of particular concern to analysts is the stark decline in XRP payment activity, arguably the strongest indicator of genuine user engagement and utility on the network. Just days ago, daily payments on the XRP Ledger hovered...