The XRP Ledger recorded multiple breakthrough indicators in February. These numbers reflect the effectiveness of Ripple in gaining attention and accelerating the adoption of its underlying blockchain.
However, despite some positive signals predicting an upcoming recovery, XRP price remained below $1.4 in the last week of February.
XRP Ledger activity increases in February after upgrade
Data from XRPscan shows that the number of successful payments on the XRP Ledger has been continuously increasing over the past month. This figure rose from a low of 1 million at the end of December last year to more than 2.7 million in February. This is the highest level in 12 months.
On the XRP Ledger, a successful payment is a transaction that a validator confirms and records on the distributed ledger.
This increase therefore reflects the growing vibrancy of the XRP Ledger. A high number of successful transactions proves that users are purely using the network for payments, money transfers, DeFi, or other applications.
“XRP network activity continues to be strong. About 2 million transactions and about 40,000 active addresses per day. This is what usage is really like. While most chains chase stories, XRPL continues to move value. Payments, settlements. This kind of consistency is what financial institutions are looking for,” said crypto investor CryptoSensei.
Additionally, the XRPL DEX Automated Market Maker (AMM) showed signs of a breakout, with over 14,000 deposits made. This development provides additional decentralized liquidity to XRPL and reduces trading slippage.
Notably, AMM activity is unprecedented. This issue occurred after the Allowed Domains upgrade was enabled in early February. Two weeks later, the network enabled Permissioned DEX.
Investors hope that Permissioned DEX will pave the way for banks, payment providers, and financial institutions to trade within a controlled liquidity environment on the XRP Ledger.
Despite these positive signs, XRP prices continued to decline for the fifth consecutive month, ending the last week of February in the red. At the time of writing, XRP is trading at $1.33, down 45% from its highs at the beginning of the year.
BeInCrypto’s recent report shows that increasing whale inflow to the exchange continues to create selling pressure. Realized losses reached their highest level since 2022.
However, historical signs also suggest that such extreme negative conditions are often preceded by price troughs and strong recoveries. BeInCrypto’s latest analysis reveals that XRP currently needs to confirm through a breakout above the $1.47 resistance level.
