Payment volume on XRP Ledger drops to lowest level since October last year

reported that XRPScan data shows significant slowdown in activity on the XRP Ledger, with payment transaction volume dropping to 320,747, the lowest since October last year, far below the average of over one million transactions in early March to May. Active addresses have also dropped to below 10,000, similarly the lowest since October. Meanwhile, the amount of XRP destroyed as transaction fees has decreased to 1,500, the lowest in months, coinciding with the slowdown in new account creation. Messari's report remains optimistic about the XRP Ledger's prospects, noting increased institutional adoption through strategic partnerships and acquisitions. XRP has not benefited from Bitcoin's new highs as it did earlier this year, which may indicate weakening demand and requires cautious interpretation, as potential Bitcoin price drops could put pressure on XRP's price. (CoinDesk)