TLDR
- XRP Ledger recorded a 1,300% surge in payment volume within 24 hours.
- The total payment volume on the XRP Ledger reached 4.11 billion in one day.
- On-chain payment activity jumped by 117.41%, hitting a monthly high of 1.1 million transactions.
- The odds of an XRP ETF approval have risen sharply to 87% according to Polymarket.
- The SEC is scheduled to decide on XRP ETF filings from Franklin Templeton and ProShares later this month.
The XRP Ledger recorded a sharp increase in activity, with payment volume rising 1,300% to 4.11 billion in 24 hours. This major shift coincides with growing anticipation surrounding a potential XRP ETF, now estimated at 87% probability. While the XRP price remains steady, transactional data suggests rising utility and renewed confidence.
XRP Payment Volume Soars Amid ETF Buzz
XRP payment volume reached a daily high of 4.11 billion, up from 295.67 million the previous day. On-chain payments also rose to 1.1 million, hitting a monthly peak as of June 9. This rapid growth signals heightened engagement across XRP’s blockchain ecosystem.
The jump in payments coincides with increased network utility, helping the XRP Ledger stand out amid broader market uncertainty. Daily active transactions surged, even as price fluctuations remained minimal between $2.21 and $2.32. This trend reflects demand for efficient blockchain settlement, regardless of short-term price action.
XRPScan data confirms that payment activity climbed 117.41% in just one day, marking a significant uptick in real-world blockchain usage. This operational growth could reinforce XRP’s positioning as a utility-driven digital asset. As a result, increased throughput may support further adoption ahead of regulatory milestones.
- Source- XRPScan
XRP ETF Odds Surge as Decisions Near
The probability of an XRP ETF approval climbed to 87% on prediction platform Polymarket, lifting market sentiment. This comes as Bloomberg analysts suggest the arrival of an “Altcoin ETF Season” following developments around Solana ETF proposals. The SEC is set to make decisions on XRP ETF filings in June.
Franklin Templeton’s XRP ETF proposal awaits an SEC ruling by June 17, while ProShares’ application is due by June 25. Market participants expect these decisions to influence token accessibility through traditional financial products. Increased exposure via ETFs could unlock broader participation.
Ripple’s expanding partnerships with firms like Ondo Finance and Guggenheim strengthen the foundation for XRP’s institutional adoption. Meanwhile, its cross-border transaction infrastructure continues to grow globally. These advancements may add weight to ETF approval considerations.
Ripple Ecosystem Growth Supports Demand
Ripple has advanced its ecosystem with notable acquisitions and partnerships, reinforcing XRP’s role in real-world financial systems. These strategic moves position XRP to benefit from expanding tokenization use cases. Its growing transaction volume supports this broader narrative.
Despite unresolved regulatory matters in the U.S., Ripple maintains progress in international markets. This ongoing expansion contributes to rising utility metrics for XRP. Together, these developments could influence future price action and long-term project viability.
