- XRP Ledger activity remained stable despite high market volatility and a 50% price crash.
- Exchange trading volumes dropped sharply, showing reduced speculative momentum.
- Open interest fell by over 50%, with CME Group maintaining the largest XRP futures position.
The XRP community has shown resilience in the face of recent market turmoil. Despite a dramatic price drop that saw the token fall by over 50%, on-chain data indicates that investors remained composed. The XRP Ledger network displayed a modest increase in activity, suggesting that the community did not panic even as prices fluctuated sharply.
According to blockchain explorer XRPScan, the XRP Ledger handled more than two million transactions on October 11, marking the first time since early August that activity reached this level. The network’s transactions per second metric showed a minor rise, yet analysts noted that it remained within normal parameters. This stability highlights that while price movements were extreme, the blockchain’s fundamentals held steady.
Sharp Price Drop Followed by Rapid Recovery
On October 10, XRP experienced a severe decline, briefly falling to $1.25—its lowest value since November 2024. The token then rebounded quickly and was trading at $2.37 on Binance by October 12. The sudden correction reflected the broader volatility in the cryptocurrency market, but XRP managed to regain some of its lost ground within days.
Although on-chain data remained stable, trading activity on exchanges told a different story. CoinGlass data revealed that XRP’s trading volume fell sharply after the initial spike during the crash. On Binance, XRP/USDT trading volume declined by 65%, while Bybit and OKX recorded decreases of 73% and 74%, respectively. This trend indicates that speculative interest has cooled considerably following the intense trading phase.
Open Interest Declines Significantly
Market data further shows that XRP’s open interest continued to drop in the days following the crash. The figure fell from $9.15 billion on October 7 to $4.2 billion by October 12. CME Group now leads the market with $1.08 billion in XRP open interest, signaling that institutional participation remains active but at reduced levels compared to the start of the month.
