XRP Ledger Exceeds 650,000 Payments...Payment Volume 'Evaporates' by 60%

▲ XRP, Artificial Intelligence (AI), Cryptocurrency Payment / AI Generated Image

The number of XRP Ledger payments has exceeded 650,000.

According to U.Today on September 1st (local time), the number of XRP Ledger payments increased by 47.8% to approximately 658,600. It wasn't just payments that increased. Total transactions increased by 59.7% to approximately 2 million, and successfully processed transactions increased by 82.4% to approximately 1.6 million. This indicates an overall increase in activity across transaction processing.

Account metrics also improved. Newly created accounts increased by 20.7% to approximately 2,300. Active accounts increased by 12.7% to approximately 14,800. The number of transactions per ledger also jumped by 59.7% to 99.12. U.Today noted that it wasn't just one specific metric that surged, but rather several usage metrics increased simultaneously.

The next milestone is 700,000 payments. This can be reached with a further increase of 6.3% from the current 658,600. After that, 1 million is presented as a long-term goal. The required increase from the current level to 1 million is approximately 52%. U.Today believes that a consistent increase in payment numbers to 1 million would provide a clearer signal that the recent expansion of network activity has become a long-term trend.

However, the payment volume showed the opposite trend. While the number of payments increased by 47.8%, the payment volume decreased by 60.8% to approximately 443.1 million XRP. This means that although the number of transactions increased, the amount of XRP moved per transaction decreased. U.Today's analysis suggests that it is difficult to conclude that the volume of funds flowing through the XRP Ledger has increased solely based on the rise in payment counts.

Regarding price, the 200-day moving average of $1.35 was presented as a key support level. If $1.35 holds, the price could retest the $1.45-$1.50 range. Conversely, if $1.35 breaks, the short-term moving average at $1.27 was mentioned as the next support level.

[Article Key Summary]

-The number of XRP Ledger payments increased by 47.8% to approximately 658,600, surpassing 650,000.

-The required increase to reach the next goal of 700,000 is 6.3%, and 1 million is approximately 52% away.

-While the number of payments increased, the payment volume decreased by 60.8% to approximately 443.1 million XRP.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*