XRP Ledger payment volumes fall to lowest since October as price fails to keep pace with Bitcoin's new highs

Odaily Planet Daily News XRP's recent activity has slowed significantly, with payment transactions falling to around 320,000, the lowest level since October 2023, far below the average transaction volume of more than one million from March to early May. The number of active addresses has also fallen below 10,000, and the XRP destruction fee has fallen to 1,500, a multi-month low. Despite this, the market remains optimistic about XRP's medium- and long-term prospects. Messari data shows that payment transaction volume in the first quarter increased by 36% month-on-month, and active addresses increased by 142%. In addition, Ripple completed its acquisition of Hidden Road in April, becoming the first crypto company to operate a global multi-asset prime brokerage business. Ripple's enterprise-level stablecoin RLUSD was also approved by the Dubai Financial Services Authority (DFSA) today, and is expected to be implemented in the Dubai International Financial Center (DIFC). It is worth noting that although Bitcoin has broken through $110,000 to a new high, up more than 40% from early April, XRP has been weak since rebounding from $1.60 to $2.60, still lower than the high of $3.40 set in January this year. Analysis pointed out that XRP failed to benefit from the rise of BTC at the same time, indicating that market demand for it may be weakening. If BTC pulls back, XRP prices may be under pressure. (CoinDesk)