Key Insights
- XRP price rebounded nearly ten percent and briefly touched $1.47, yet XRP Ledger payment volume dropped sharply to 230 million tokens.
- XRPL recorded a seventy percent decline in payment activity within one day, highlighting a widening gap between network usage and price performance.
- XRP derivatives open interest exceeded $2.36 billion while Coinbase traders reduced exposure, signaling mixed sentiment across different segments of the market.
XRP moved back into positive territory as the broader cryptocurrency market stabilized and buyers returned after several days of price pressure. Market data shows the token recovering strongly during the latest trading session while several on-chain indicators failed to follow the same direction.
The asset climbed nearly 10% within a single day and briefly reached a weekly high of $1.47. Additionally, XRP maintained mild upward momentum afterward and traded around $1.42 at the time of writing.
Payment volume falls more than 70%
Despite the improving price performance, transaction activity on the XRP Ledger weakened sharply. Data from XRPSCAN shows that total payment volume fell to 230,838,816 XRP on March 5, 2026.
This figure represents a decline of more than seventy percent from the 769 million XRP recorded a day earlier. Consequently, the sharp drop highlights a notable divergence between price movement and actual network usage.
Market recovery supports short-term price momentum
XRP recently touched local lows near $1.27 before buyers returned to the market and pushed the price upward again. Besides the broader crypto recovery, renewed trader interest also helped strengthen the short-term momentum.
Investor sentiment gradually improved as prices stabilized above recent support levels. Moreover, the rebound helped restore confidence among market participants who continue to monitor whether the rally can extend further.
On-chain indicators remain under pressure
Several important network metrics continue to show slower activity even as the market price rises. Payment volume, transaction flow, and other on-chain indicators currently remain below recent highs.
Additionally, analysts tracking network usage note that sustained price rallies typically coincide with stronger transaction growth. However, current data suggests that the latest price movement has not yet translated into a similar expansion in ledger activity.
Derivatives market shows mixed positioning
Derivatives trading around XRP also reflects mixed market behavior during the recent rally. Total open interest across exchanges climbed above $2.36 billion as traders increased speculative positions.
Significantly, liquidations of short positions contributed to the rise in open interest and supported the short-term price recovery. Consequently, derivatives activity played a role in reinforcing bullish momentum across the broader market.
While global derivatives activity expanded, traders on Coinbase reduced exposure during the same period. Data from CoinGlass shows that XRP open interest on the exchange declined by about 3.62%.
Moreover, the reduction suggests that some U.S. traders remain cautious despite the recent price rebound. The pullback indicates that parts of the market still hesitate to increase positions while network activity remains subdued.
