The daily transaction volume on the XRP Ledger has exceeded one million once again. According to XRPSCAN data, the network processed around 1.1 million payments, hitting an impressive 1,143,754 transactions on September 27. Over the last 30 days, the average stood at approximately 887,600 transactions. This uptick comes at a time when XRP’s price is striving to sustain its recovery trajectory observed in September.
What Drives Rising Network Usage?
The data suggests that the increase is not a one-off surge. Throughout September, there were multiple occasions where the number of payments on the XRP Ledger surpassed one million. During this timeframe, total transactions amounted to about 2.7 million, with active accounts numbering 17,800 and payment volume hovering around $400 million. This pattern reflects a broader increase in utilization across the network.
How is Liquidity Growth Contributing?
Supporting this network activity, one possible factor is the expansion in liquidity infrastructure. The latest data from XRPSCAN shows that there are approximately 31,200 AMM pools on the network, with this number continuing to rise. Although the payment graph alone does not pinpoint the exact cause of the recent spike, increased liquidity and asset movement on-chain appears to drive more transactions across the ecosystem.
It is important to note that a million transactions do not signify a million direct XRP transfers. The payment type on XRPL is used for transferring issued assets like stablecoins and other tokens, besides XRP. As such, automated services, exchange infrastructures, and various applications can rapidly produce a high volume of individual transactions.
- Daily payments reached a peak of 1,143,754 on September 27.
- The average number of payments over the last 30 days stood at 887,600.
- The number of AMM pools on the network is approximately 31,200.
Network expansion provides a solid backdrop from a pricing perspective, yet the short-term technical picture remains unclear. After overcoming September’s resistance, XRP climbed from roughly $1.28 to over $1.60, before easing back to around $1.49. Subsequent red candles indicate a weakening in short-term momentum.
Maintaining the $1.45 to $1.50 range is seen as crucial for sustaining recent breakouts.
Near-term interest focuses on maintaining the $1.45 to $1.50 range. If this range holds, the target of $1.55 to $1.60 could remain on the radar. A price recovery above $1.60 may see the recent peak of $1.65 revisited. Conversely, a break below the $1.45 support could lead to a move towards $1.40, with subsequent focus on the stronger moving average support between $1.35 and $1.37.
