XRP Daily Transactions Plummet 80%... Fears of $1 Collapse Resurge

Daily transaction volumes on the XRP Ledger (XRPL) have dropped to a nine-month low as network activity slows, with price and on-chain indicators simultaneously weakening. Market focus remains on whether XRP can sustain its psychological support level of $1. According to Decrypt, daily transactions on the XRP Ledger fell to 325,888 on May 18, an 80.7% decline from May 28, 2026, and an 85% drop from February's peak of 2.188 million. After maintaining over 500,000 daily transactions since October 2023, volumes have decreased to around 300,000, with limited recovery despite a minor rebound on May 19. Analysts suggest the decline signals a sustained weakness rather than a temporary correction. On-chain metrics also show a similar downtrend, with active users falling to 123,986 on May 19 and total network transactions dropping to 1.129 million, a 78% decline from April 6's peak of 5.172 million. The network contraction has directly impacted XRP's price, which has fallen over 70% from its March 2025 high of $3.60 to around $1.08, with a 41% decline in 2024. Despite a recent bounce, XRP has yet to reclaim $1.10. The market now views the drop in transaction volume and price as indicative of broader market uncertainty.