Chart is Broken, but Wallets 'Surge'...XRP Unexpectedly Surpasses 1 Million Payments

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While the price of XRP has not escaped its bearish structure, the number of XRP Ledger payments has once again exceeded 1 million, indicating a trend where network activity is reviving before the price.

According to U.Today on May 27 (local time), the daily payment transactions on the XRP Ledger once again surpassed the psychological threshold of 1 million after a slowdown earlier this month. With XRP stuck in a prolonged sideways trend, the recovery of on-chain activity is considered a notable change for the market.

Recent XRP Ledger data shows that payment counts briefly dropped to the 700,000 range in mid-May before rapidly rebounding. Despite weakening price trends and market sentiment, the network recovered to over 1 million daily payments. This demonstrates that transaction activity on the XRP Ledger remains robust.

U.Today reported that earlier this month, there were concerns that XRP Ledger usage continued to decline, suggesting a simultaneous weakening of real transaction demand and speculative interest. However, with payment counts again exceeding 1 million, a signal emerged that the network maintains a relatively active user base and liquidity flow.

However, the price chart still leans more towards caution than optimism. XRP is still moving within a large downtrend structure, positioned close to the lower support area around $1.30. The 50-day and 100-day moving averages also continue to act as dynamic resistance levels above the price. The Relative Strength Index (RSI) also shows a relatively limited trend, indicating that buying pressure has not yet fully regained dominance.

Nevertheless, XRP avoided a complete collapse amidst selling pressure. U.Today viewed the recovery of XRP Ledger activity as an important signal that it is not a situation where both price and network usage are collapsing together. In the past, there have been cases where a period of on-chain activity stabilizing before price recovery was interpreted as an early accumulation phase. If XRP Ledger payment counts remain above 1 million and the overall market environment improves, XRP could build a more robust recovery structure.

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