XRP in One Billion Club, Again
XRP's payment volume has surpassed the billion-dollar mark, reflecting increased network activity driven by utility transfers rather than speculative actions. Over 1.12 billion XRP were transferred in a day, indicating organic demand and steady settlement needs despite bearish price trends. While XRP remains below its key moving averages (50-day, 100-day, and 200-day), the on-chain data suggests accumulation behavior instead of distribution, with no unusual whale activity or exchange deposits. Although it is not in a bullish trend yet, XRP's consistent demand and high payment volume, coupled with a supportive holder base, provide the potential for a market reversal if broader conditions improve.
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XRP Payment Volume Reaches a Billion-Dollar Mark
XRP's payment volume has risen back above the billion-dollar mark, which it usually returns to when network activity picks up. More than 1.12 billion XRP were transferred in a single day, according to on-chain data. This indicates another increase in utility-driven transfers as opposed to speculative wash activity. After weeks of drift, the chart is now beginning to show signs of life.
XRP's Market Challenges
This data point is one that the market typically ignores until it starts bleeding into price action. XRP remains technically trapped beneath its heavier moving averages, including the 50-day and 100-day MAs, which are bearish. The 200-day moving average is also exerting pressure on the price. Any respectable bounce is capped as it meets these trend resistances. Despite a recent shift from $2.30 to $2.50, the overall trend remains corrective, and every rally is merely a counter-trend move until XRP breaks the descending structure from the September highs.
On-Chain Insights vs. Market Chart
However, the market situation may not be as dire as the chart implies. A slightly different story emerges from the on-chain data. Throughout late October and early November, the payment volume has steadily increased, surpassing the one-billion threshold twice in two weeks. This high throughput indicates organic activity or real transfers, rather than panic selling, especially since there hasn't been a corresponding price collapse. It also suggests that even in uncertain sentiment, demand for settlement is steady.
Stable Network Shape and Accumulation Behavior
Inflow behavior remains a crucial factor, and XRP's network appears in good shape. There have been no unusual increases in exchange deposits or whale unloading signals. Instead, on-chain patterns suggest a sideways accumulation phase rather than distribution. This aligns with price behavior seen after every breakdown attempt, where buyers absorb sellers to eventually stabilize the price sharply.
Conclusion: XRP's Resilience and Future Potential
In conclusion, while XRP is not yet in a full bullish trend, its network activity remains strong. If the broader market conditions improve, XRP's solid holder base and high payment volume could form a foundation for a reversal. The chart only requires a breakout to align with the billion+ activity levels, indicating that the underlying utility still persists.