The XRP Ledger is experiencing a noticeable slowdown in activity, with payment transactions falling to their lowest level since October 2024, even as Bitcoin continues to rally to new all-time highs.
According to data from XRPScan, daily payment transactions on the XRP Ledger recently dropped to around 320,747, a steep decline from the average 1 million+ daily transactions recorded through March and April.
Network Activity Dips Across the Board
This decline isn’t limited to payments alone. Active wallet addresses have also dipped below 10,000, the lowest figure seen in over seven months. Additionally, XRP burned as transaction fees has dropped to just 1,500 XRP, signaling reduced network usage. New account creation has also slowed, further reflecting the current downtrend in activity.
This marks a shift from XRP Ledger’s strong Q1 performance, where payment transactions surged by 36% and active addresses jumped by 142% quarter-over-quarter, based on data from blockchain analytics firm Messari.
Institutional Adoption Signals Long-Term Potential
Despite the short-term slowdown, analysts remain optimistic about XRP Ledger’s long-term growth, largely driven by strategic partnerships and enterprise adoption.
In a significant development, Ripple — the company behind much of the infrastructure supporting XRP — partnered with Hidden Road, becoming the first crypto firm to own and operate a global multi-asset prime broker.
Ripple’s ecosystem also received a boost with the regulatory approval of RLUSD, its enterprise-grade stablecoin, by the Dubai Financial Services Authority (DFSA). The green light opens doors for the stablecoin’s use within the Dubai International Financial Centre (DIFC).
More updates are expected at the XRP Ledger Apex 2025 event in Singapore from June 10–12, which may outline Ripple’s next steps toward scaling institutional use cases.
XRP Struggles to Ride Bitcoin’s Wave
While Bitcoin recently reached new all-time highs above $110,000, rising over 40% since April, XRP’s price has not kept up. The token climbed from $1.60 to $2.60, a 62% gain, but remains well below its January peak of $3.40.
This growing divergence suggests that XRP may be losing some of its momentum relative to Bitcoin and the broader crypto market. Some analysts view this as a sign of waning demand, warning that a Bitcoin correction could further weigh on XRP’s price performance.
