Payments on the XRPL chain have been significantly amplified in recent days, with one-day payments exceeding 550 million XRPs and then falling back to about 201 million. At the same time, XRP prices rebounded in tandem with the turnover, and market volatility was significantly higher than before.
Short and high payments on the chain.
The payment volume indicator reflects the total amount transferred by way of payment between the various accounts by XRP. The roll-out resulted in the indicator recording one of the larger single-day increases in almost a month.
However, the increase in chain payments does not directly represent an increase in purchases. The transfer may come from exchange transfers, institutional settlements, wallet reorganization, or ordinary network activities, and cannot simply be considered as the entry of additional funds.
Price upsync with trade
While the data on the chain is zooming in, the XRP has also been coming out of the stronger round of recent weeks and approaching a critical resistance point near $1.15. The US$ 1.05 and US$ 1.08 areas where the short-term average is located have also been repositioned.
The marked increase in the volume of the trade represents an increase in the round from a low-trading situation in most of August, with greater market participation and the recovery of short-line emotions.
Market focus: $1.15.
In terms of current trends, $1.15 became the next direct observation point. If prices can be maintained above this position, the market will continue to focus on the next long-term resistance in the vicinity of $1.34.
If this breakout does not last, $1.08 and $1.05 will be the supporting area below which first to be observed. Overall, the variation in payments along the chain is indicative of the warming of network activities, but the stability of prices in key areas remains a central signal in judging subsequent trends.