XRP's on-chain payment transaction volume sharply decreased by 45% month-on-month, recording $295.1 million (approximately 404.3 billion won).
According to XRPSCAN data, XRP's on-chain payment transaction volume significantly dropped from $538.94 million on May 2nd to $295.1 million as of June 2nd.
This result coincides with the overall cryptocurrency market decline due to macroeconomic instability. XRP fell from $2.40 to $2.10 last week and is currently stabilizing around $2.17.
According to CoinMarketCap data, XRP recorded a 6.15% price decline last week. The decrease in payment transaction volume suggests that institutional investor activity and asset demand are contracting.
Although Ripple is resolving regulatory issues with the SEC and preparing for an ETF launch, investor concerns are growing due to poor on-chain activity. Some speculate that a bearish market may be beginning.
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