XRP’s Sudden 90% Payment Volume Crash Has Traders Sounding the Alarm—Is More Pain Ahead?
XRP stuns crypto markets as payment volume collapses 90% in a day. Can it hold crucial support or is a bigger drop coming for Ripple?
Quick Facts
- 90% drop: XRP payment volume plunged from 1B+ to 114M tokens in 24 hours
- Key support: XRP hovers just above the crucial $2.08 (200 EMA) level
- Weak volume: Price action lacks strong buying conviction ahead of resistance zones
Ripple’s XRP just sent shockwaves through the crypto world. In a blink, its payment volume cratered—falling from over 1 billion tokens to just 114 million overnight. This is the kind of drop-off that grabs attention and sparks debate. As on-chain activity collapses, XRP finds itself at a make-or-break moment, with bulls and bears fiercely eyeing every move.
What Happened to XRP’s Payment Volume?
Fresh data from Highcharts reveals a jaw-dropping 90% plunge in XRP daily payment volume between June 7 and June 8. This collapse is more than a blip—it’s a possible sign that big-money players or even institutions are pulling back or pausing transactions on the network. Such a sharp decline in on-chain activity often hints at looming volatility.
Payment volume is a metric that measures real economic activity on the network, not mere speculation. When it crashes like this, it suggests trouble is brewing beneath the surface. Historically, these kinds of sharp volume drops have foreshadowed major price moves—usually to the downside.
If you want to track these metrics yourself, data sources like CoinMarketCap and CoinGecko are valuable resources for up-to-the-minute stats.
How Is XRP’s Price Reacting?
Despite gloomy trade data, XRP’s price showed short-term resilience. It recently bounced off its 200-day exponential moving average (EMA) around $2.08—a technical line traders watch closely. After this bounce, XRP even spiked to $2.20, climbing 3.25% in a single day.
However, the upside stalled fast. Resistance between $2.26 and $2.55 continues to hold tight. And while XRP broke above a descending triangle—a typically bullish signal—it couldn’t sustain momentum over its 50 and 100 EMA levels. Volume on these bounces remains weak, leaving market-watchers wary of a potential “bull trap.”
For comparison, similar patterns in other major cryptocurrencies have often preceded volatile swings or corrections. More insights on market sentiment can be found at Binance and Kraken.
Q: Why Did XRP Payment Volume Collapse So Quickly?
The sheer scale of XRP’s payment volume drop raises questions. Sometimes, a single institutional player or “crypto whale” can move the numbers dramatically. Their absence, or a sudden pullback, can make the network appear far less active practically overnight. Alternatively, broader waning demand could hint that users are finding less utility for XRP—as adoption slows or alternatives emerge.
Q: What Are the Critical Levels to Watch Now?
XRP is hovering above its 200 EMA ($2.08). Should it break below this crucial support, downward targets may quickly shift to $2.00—an important psychological level—and then to $1.80. Conversely, a sustained close above $2.20, especially with rising volume, could ignite another bullish run toward $2.55 resistance.
Seasoned traders stress that these next moves could determine whether XRP rebounds or plummets further. An uptick in on-chain activity, coupled with robust price action, would be a welcome signal for holders.
How to Respond if You Hold XRP?
This is not the time for complacency. When both on-chain data and technical analysis flash warning signs, caution is key. Stay informed and avoid emotional trades.
- Monitor payment volume trends using trusted sources like CoinMarketCap
- Watch $2.08, $2.00, and $1.80 for potential breakdowns
- Look for increased buying volume if XRP approaches resistance levels
- Keep tabs on big player moves—large transactions can shake up the market
Don’t get caught off guard—track the data, watch key levels, and stay ready to act.
XRP Survival Checklist
- Track real-time payment volume for sudden changes
- Set alerts for breaks below $2.08 and $2.00 support
- Confirm volume spikes on rallies before entering new trades
- Follow credible crypto news for breaking updates
- Review your stop-loss and risk management strategies
For more on digital assets and emerging blockchain trends, visit the main sites of Ripple and CoinTelegraph.
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