XRP Rally Fails to Lift Payment Volume as Metric Declines 70%

The broad crypto market rebound that has fueled a rally for XRP’s price has failed to extend its strong momentum to the XRP Ledger as on-chain payment activity on the ledger has declined significantly.

While XRP has recently suspended its prolonged price dip, payment activities still remain weak as data from XRPSCAN shows that the payment volume on XRPL has declined to 230,838,816 XRP as of March 5, 2026.

Notably, this marks a more than 70% decrease from the 769 million XRP volume it achieved in the previous day, representing a major divergence between XRP’s price action and network usage. 

XRP reclaims $1.47

While XRP’s price move is yet to reflect on its payment volume, the asset has recorded a nearly 10% increase in price in just a single day.

The contrasting metrics has sparked curiosity about whether XRP is headed for a major recovery or the rally will be short-lived.

While it has reached its highest weekly level of $1.47 during the rally, XRP has retained the positive price momentum and has surged 1.78% over the last day, trading at $1.42 as of writing time.

After revisiting local lows around $1.27, the unexpected intervention of bullish traders — which saw market sentiments flip to the positive side — have stirred confidence among investors, who are still optimistic for a bigger price move.

Nonetheless, the slow performances seen among key on-chain metrics like the payment volume, network activity, institutional participation and more have triggered curiosities about the sustainability of the price rally.

XRP futures slow on Coinbase 

While XRP has also flipped positive across its derivatives market, with its total open interest surging past $2.36 billion, futures traders on Coinbase have closed their positions during the period.

Data from CoinGlass shows that XRP open interest on Coinbase has declined by 3.62%, suggesting that American traders are less willing to stake their holdings ahead of a potential price upswing.