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.

READ MORE:

Coinbase Announces Addition of New Altcoin Perpetuals

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

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.