Statistics recorded on XRP Ledger in February revealed that user activities on the network increased significantly. Despite this, the price of XRP remained below $1.4 despite signaling a strong recovery throughout the month.
There was a strong transaction increase in XRP Ledger in February
According to XRPscan data, the number of payment transactions confirmed on the Such transactions refer to transfers that are confirmed by validators on the network and processed on the distributed ledger. Increasing transaction volume shows that users are actively using the network for payments, transfers, DeFi and various applications.
XRPL DEX AMM Activity and Crypto Investors’ Views
Interest in the automatic market maker (AMM) module on the XRPL decentralized exchange has also increased. More than 14 thousand AMM investments were recorded in February. AMM provides additional liquidity to the network, reducing transaction slippage and providing a more stable trading environment. In particular, the introduction of Permissioned DEX after the Permissioned Domains upgrade contributed to the opening of new liquidity areas. Crypto investor CryptoSensei pointed out this activity in the network and made the following assessment:
It was stated that the activity of the XRP network continues to be strong, and approximately 2 million daily transactions and around 40 thousand active addresses are an indicator of real usage. While many chains pursue different narratives, XRPL stands out with its value movement; It was stated that consistent progress constitutes an important element for institutional actors.
It is anticipated that Permissioned DEX will provide opportunities for traditional institutions such as banks and financial institutions to trade in a controlled liquidity environment.
XRP Price is Under Pressure for the Fifth Month
At the end of February, the XRP price finished its fifth consecutive month of depreciation, closing at $1.33. This value means a 45 percent decrease compared to the peak at the beginning of the year. It is stated that the large transfers made by large investors to the stock exchanges were effective in the decline in prices. It was also reported that the losses incurred have reached the highest level since 2022.
In similar situations in the past, there have been examples where prices recovered after a serious negative atmosphere prevailed in the market. Latest published analysis underlines that XRP must overcome the $1.47 resistance for a permanent rise.
