On-chain data indicates exchange activity for XRP has dropped to record lows, coinciding with a more than 60% price decline from last summer’s peak. The token’s price rose 4% amid a broader market recovery, while parent company Ripple reported its payments system has processed over $100 billion in total volume. Analysis of transaction counts suggests a shift toward withdrawal and holding behavior among users.
Exchange-related activity for the cryptocurrency XRP has declined significantly in recent months. On-chain analytics shared by CryptoQuant shows deposit and withdrawal transactions across major trading platforms have fallen to their lowest recorded level.
This downturn follows a steep drop in XRP‘s price, which has fallen more than 60% from its highs established last summer. The metric tracks the net number of transfer transactions across 15 leading crypto exchanges, focusing on user activity rather than token volume.
Rising values in this metric can suggest potential selling pressure, as users often move assets to exchanges to sell. Declining values typically imply more participants are withdrawing to private wallets, a trend associated with accumulation.
Historical data shows the last major spike in exchange deposits occurred in January 2025 when the price approached $3. A period of strong withdrawal activity followed between May and June 2025, reflecting accumulation after a sell-off.
The development comes as Ripple recently detailed milestones for its payments ecosystem. The company said that Ripple Payments has processed more than $100 billion in total transaction volume and currently operates across over 60 markets worldwide.
The system is connected to 51 real-time payment rails, according to the update. Ripple also noted that its RLUSD stablecoin reached a $1 billion market capitalization in less than a year after launch.
