finbold.com
Although $XRP remains under bearish pressure, the asset’s network activity has surged, signaling a potential buildup ahead of a major rally.
Specifically, the token has declined for much of 2026, trading in line with the broader cryptocurrency market. As of press time, $XRP was at $1.35, up about 1.2% in the past 24 hours. However, it is still down roughly 28% year-to-date.
This divergence between price action and network fundamentals is notable considering that one of the clearest indicators is the sharp rise in $XRP’s burn rate, which climbed to 1,851 on March 19.
This marks a 270% increase from the average daily burn of 500 recorded since August 2025, signaling higher transaction throughput, according to data from $XRP Scan.
Transaction activity has also hit a notable milestone. Successful transactions reached 3.11 million on March 23, the first time the network has processed over 3 million in more than a year.
However, by March 29, this figure had dropped to 1.3 million. Meanwhile, average transactions per ledger surged 129%, rising from 83 on March 7 to 190 by March 23, further highlighting accelerating usage.
Growth is also visible in the network’s decentralized finance ecosystem, where automated market maker pools on the $XRP Ledger increased from 24,462 at the start of 2026 to 27,860, adding 3,398 pools in a short period.
Together, these metrics point to strengthening fundamentals even as price performance remains weak. The widening gap between usage and valuation is increasingly seen as a sign of underlying accumulation, suggesting potential for a sharp move once momentum shifts.
$XRP quarterly returns
While $XRP continues to track broader market trends, historical data suggests it may be positioning for a rebound in the coming quarters.
In this line, the asset is on track to record its weakest Q1 performance in years, down over 25% heading into the final hours of Q1 2026, marking its worst first-quarter return since 2018.
Historically, $XRP’s Q1 performance has been highly volatile, with steep losses of -77.7% in 2017 and -68.2% in 2015, compared to a 22.4% gain in 2016.
At the same time, volatility often extends into Q2, where performance remains mixed. However, trends show $XRP typically stabilizes and improves in Q3, with more consistent gains during that period.
The recent decline follows an early-year rally that pushed $XRP as high as $2.42 before momentum faded, with prices trending lower amid broader market uncertainty and weakening sentiment.
Additional pressure has come from investment flows, as $XRP-focused exchange-traded products (ETFs) recorded notable outflows in March, signaling reduced institutional demand.
The market outlook remains divided, with some analysts warning of a deeper correction, potentially below $1, before a base forms, while others view such a move as the final phase of the bearish cycle, paving the way for recovery.