XRP Ledger payment volume dropped 72.3% in a single day to 119.5 million XRP, far below its 30-day average. XRP is also trading near $1.30 beneath its key moving averages, so the next few days of ledger activity may matter for the $1.25 support zone.
XRP Ledger payment volume fell to 119.5 million XRP on October 17, a 72.3% drop in a single day. The metric tracks XRP sent from one account to another. The 30-day average sits at 629.3 million, and the all-time high is 7 billion.
Volume stays low into October 18
Data for October 18 shows approximately 37.5 million XRP so far, down another 68.6%. The day is not finished, so that figure will likely rise. Over the past year, daily volume typically stayed between 300 million and 1 billion, and readings near 100 million are rare.
However, one weak day does not establish a trend. Payment volume jumps around, and quiet weekends often deliver low numbers. Both drops landed on a Friday and Saturday, but the timing matters because price is also under pressure.
XRP slips below its moving averages
XRP trades near $1.30 after falling from a September high around $1.66. It has slipped beneath the 50, 100, and 200-day moving averages, which sit between $1.34 and $1.38, and those lines now act as resistance.
The RSI is near 40, which indicates weak momentum but not an oversold market. Trading volume has also dwindled since the August spike.
Support sits at $1.25 to $1.27
The nearest support is the $1.25 to $1.27 area, where buyers stepped in during mid-September and again this week. A close beneath that zone would put $1.15 in view, followed by the $1.00 base from August. For bulls, the first target is a move back above $1.34 to $1.38.
If ledger activity returns to the 500 million level within the next few days, the drop was noise. If it stays low while XRP holds below the moving averages, the risk of a break beneath $1.25 grows.
Source: U.Today
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