- XRP Ledger payments fell to 114 million from peaks above 2 billion
- Binance XRP reserves rose 670 million in September, fueling pressure
- XRPL TVL dropped to $98 million as network activity hit multi-month lows
The XRP Ledger (XRPL) processed just 114.07 million XRP in payments over the past 24 hours. That figure is sharply lower than the 200 to 300 million daily transactions seen earlier this year, and a dramatic drop from prior peaks above 2 billion transactions.
The decline raises fresh questions about demand for XRPL’s primary role as a payment settlement network. Ripple continues to market XRPL as a decentralized, scalable layer, but the slowing transaction count is testing that positioning.
Binance Reserves Rise by 670 Million XRP While On-Chain Metrics Weaken
Exchange balances are climbing fast. Binance now holds 3.57 billion XRP, up by 670 million since September began. Large inflows to centralized exchanges are often interpreted as potential selling pressure.
Other on-chain signals show weakening participation:
- Total Value Locked (TVL): down from $120M to $98M
- DEX activity: lowest since April
- Search interest: “Ripple (XRP)” on Google Trends has dropped from 100 to 19 in two months
These shifts underline that while price has held, on-chain participation and demand are softening.
Related: XRP Ledger Sets New Record with 5.1 Million Transactions in 24 Hours
XRP Price Holds Above $3 Despite Falling Liquidity and Trading Volume
Despite weaker utility signals, XRP closed slightly higher at $3.01, after dipping below $2.94 in a volatile session. Its market capitalization remains $179.56 billion, keeping XRP ranked as the third-largest cryptocurrency.
Liquidity, however, has weakened. Daily trading volume dropped 27 percent to $4.64 billion, leaving a volume-to-market-cap ratio of 2.57 percent. XRP’s circulating supply is 59.61 billion tokens out of a 100 billion maximum, giving the token a fully diluted valuation of $301.23 billion.
Related: All Eyes on XRP Ledger as It Finally Gets Ethereum Compatibility
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