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HomeCrypto NewsMarketXRP On-Chain Activity Spikes to 7-Month High, Adjusted Volume Grows 112.57% 

XRP On-Chain Activity Spikes to 7-Month High, Adjusted Volume Grows 112.57% 

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XRP on-chain transaction volume hits a 7-month high, adjusted volume up 112.57%, price still in the red.

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In a recent tweet, renowned market intelligence platform Santiment shared that XRP has seen a spike in utility. Santiment noted that the uptick in major utility for XRP follows the start of September. 

The intelligence firm revealed that XRP had reached a significant milestone in on-chain transactions on the first day of September. In particular, Santiment mentioned that XRP’s on-chain transaction volume reached a record high of 4.84 billion XRP on September 1.

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XRP 7-Month High On-chain Volume

Notably, the 4.84 billion represents the number of XRP tokens transferred on-chain in one day. The  XRP market chart accompanying the tweet added further context to the volume spike. 

According to Santiment, the figure observed for XRP on September 1 represented the highest points since February 1. In other words, XRP starts September with a seven-month high in on-chain volume.

Highest Unique XRP Transfers

Furthermore, Santiment observed another record in the XRP token movement for September 1.

Specifically, the first day of this month saw the highest movement of unique XRP tokens. This was over 2 billion XRP. The data analytic firm noted that the figure represented the highest point in the last three months.

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Moreover, Santiment captured a big leap in XRP development activities. The analytic firm reported a 5.37% growth in XRP development activities compared to the last 30 days. 

112.57% Growth in XRP Adjusted Volume

Similarly, data from top analytic firm Messari shows XRP’s Adjusted Volume has increased by 112.57% in the last four days. 

As of August 30, XRP’s adjusted volume was $748 million. The value has grown in three days to $1.59 billion.  

XRP Adjusted Volume Messari
XRP Adjusted Volume | Messari

For context, the adjusted volume metric measures true trading volume by filtering out extraneous noise and potentially manipulative activities.

Meanwhile, these positive growths in multiple on-chain metrics have not positively impacted the digital asset’s price. XRP is trading in the red as it has broken below the psychological $0.5 price point. In particular, XRP exchanges hands at $0.4967, with a significant 4.67% crash over the past week.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Abdulkarim Abdulwahab
Abdulkarim Abdulwahabhttp://thecryptobasic.com
Abdulkarim Abdulwahab is a blockchain writer with a specific interest in journalistic writing. He covers breaking events in the crypto community and blockchain industry. Over the past year, he has published over 1,500 short-form and long-form content for Web3 publishing firms.

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