XRP Network Sees Surge in Transactions and Trading Volume

On July 8, the Ripple Network (XRP) experienced a notable increase in adoption, marking its highest daily transaction count since February.

This surge in user activity propelled XRP’s daily trading volume to over $1 billion.

Data from the XRP Ledger indicated a significant uptick, with 2.3 million successful transactions recorded on July 8, a 15% rise from the previous day’s 2 million transactions.

This spike reflects a 97% increase in daily transaction count since the beginning of July.

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The heightened demand positively impacted XRP’s market performance, with its trading volume peaking at $1.5 billion.

At the time of writing XRP is trading at $0.4347, down nearly 1.3% in the last 24 hours, accompanied by a slight decrease in trading volume.

Bearish sentiment persists in the XRP market, as the altcoin has declined by 10.5% over the past week.

Currently, XRP’s Parabolic SAR indicator suggests a downward trend continuation, potentially leading to a further decline to $0.41.

Alexander Stefanov