XRP Ledger Booms: $44 Million In Transactions As Activity Soars

XRP has been experiencing a significant increase in on-chain activity, which has resulted in a recent surge in its popularity.

Analysts and investors have expressed interest in the XRP Ledger, Ripple’s digital payment platform, due to its increased transaction throughput.

CryptoQuant recently noted an increase in the NVT (Network Value to Transactions) Ratio of XRP in a post on X (formerly Twitter), which implies that on-chain activity has been increasing. This increasing NVT Ratio may indicate that the XRP network is more active than its current market valuation.

Market observers are keeping an eye on the altcoin’s value and activity, which of late are exhibiting a variety of signals. Despite the network usage’s surge, XRP price continues to encounter obstacles, with critical resistance levels imminent.

XRPL: Spike in NVT Ratio

“Given that the NVT Ratio is a calculation between Market Capitalization (which is stable around $51.1B) and On-chain Transaction Volume, this spike reflects higher transaction volume.” – By @JA_Maartun

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