XRP Ledger activity surged in the past 24 hours as payment volume climbed 153.9%, reaching 363.3 million XRP, according to data from XRPScan. This marks a reversal after a period of relative calm on the network.
Volume rebound follows price support
XRP is now trading near $1.36, recovering from a recent low of $1.31 on the daily chart. Buyers re-entered the market at the orange moving average, which currently sits around $1.34. This level held as support, and after several red candles, the price action shows a green candle, suggesting a potential bounce.
Despite the apparent recovery, the latest ledger volume remains well below the 30-day average of 680.4 million XRP. The sharp percentage rise reflects a rebound from an exceptionally weak previous day, rather than a record-setting surge. XRP Ledger’s all-time high for payment volume stands at 7 billion XRP, highlighting the significant gap between current figures and historical peaks.
Volume on the XRP Ledger often moves in short, intense waves, with previous spikes surpassing 1.5 billion XRP before contracting below 500 million. Notable surges occurred in November and February, when volume rose to approximately 2.5 billion and 2.7 billion XRP, while September saw a smaller jump to nearly 1.9 billion.
Market context and technical hurdles
The most recent activity spike comes as the XRP price has declined from around $1.65 in late September to the low $1.30s. The relative strength index (RSI) hovers near 40, signaling tepid momentum, yet not indicating heavy selling pressure. October has also brought a downturn in trading volume on major exchanges. The increase in on-chain transactions may hint that participants are beginning to return after a subdued period.
Looking ahead, the $1.38 to $1.40 zone will serve as a critical resistance for bulls. Closing above this range would allow XRP to reclaim both the black and blue moving averages on technical charts, potentially paving the way toward $1.45 and then $1.50. If the rally stalls, traders will focus on defending the $1.31 low; falling below this level would undermine confidence in the recent recovery.
Meme token market draws attention
As analysts monitor XRP’s volume recovery for signs of broader market interest, similar dynamics play out in segments like the meme token market, where momentum can change rapidly. In this space, internet trends often lead to significant inflows within days. Data from Fomo App illustrates this phenomenon, highlighting a case where a $99 investment in the “Niu Lai” meme token was converted into roughly $370,000. Market watchers emphasize that tracking not only prices but also investor timing and token selection can be pivotal. Platforms such as Fomo App combine token discovery, trading, social feeds, investor rankings, and trade notifications on a single interface, allowing users to follow meme tokens alongside investor activity.
For now, the increase in XRP Ledger payment volume and the recent price bounce offers early signs of renewed enthusiasm. However, a sustained trend will depend on volume remaining above average and breaking through established resistance levels. Market participants will maintain a close watch on data for confirmation of a broader shift in sentiment.
While a single day of strong ledger growth is encouraging, traders are likely to demand consistent volume above the 30-day average before considering the move a lasting bullish development.
