Only 589 million XRP sold in 24 hours: 10x gain ultimately shrinks to 4x

Although XRP's on-chain metrics have grown significantly, the growth rate has not met expectations. Currently, XRP's circulating supply is only 589 million. Payment volume growth in the past 24 hours failed to reach the expected 1 billion target.

From a market perspective, XRP is still under pressure and its price is currently below key moving averages on the daily chart, showing a clear trend of lower lows and lower highs. After the support level near $2.10 to $2.00 (UTC+8) was breached, market momentum clearly shifted to the sellers.

Still in a downtrend.

However, the rate of decline has slowed. Wicks are appearing downward and the candlesticks are compressed, with the RSI index in the lower 30s. All these indicators, from a historical perspective, suggest that aggressive selling is weakening rather than accelerating.

The situation regarding trading volume is quite interesting. The previous 10x surge in payment volume was a typical speculative move, characterized by rapid distribution, large-scale position building, and fast capital turnover. Even without this frenzy, the current trading volume, equivalent to 4x, still indicates network usage above the baseline level.

In other words, trading activity is only cooling down, not disappearing. This is crucial. Sustained but reduced payment volume better reflects institutional and utility-driven capital flows, rather than purely short-term speculative behavior.

XRP usage declines

Timing is another important consideration. Weekdays remain the main period for payment transactions, which aligns with institutional investor behavior patterns rather than retail speculation. Even with a price pullback, this pattern confirms that the underlying network usage of XRP has not collapsed.

These divergences—stable on-chain activity and falling prices—have historically often signaled a prolonged accumulation phase or a sharp rebound.

Investors should pay attention to two main scenarios. If XRP can hold in the $1.85 to $1.90 (UTC+8) range and reclaim the short-term moving average, its price is expected to rebound to the $2.20 to $2.40 range.

On the other hand, rather than a complete collapse, XRP faces the risk of slipping into a deeper consolidation range if payment volume continues to decline and the price loses its current support level.