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With the crypto market flipping positive as prices of major cryptocurrencies record notable daily gains, $XRP has seen the trend extend to both its price and on-chain activity.
On-chain data from XRPSCAN shows a dramatic surge in $XRP Ledger payment volume.
As of June 23, data shows that the payment volume on the $XRP Ledger rose from 454.85 million the previous day to a massive 681.95 million today.
This marks a 49.91% increase in $XRP payment volume over the last 24 hours, suggesting a rise in cross-border transactions involving the token and growing institutional interest in $XRP’s payment solutions.
While the exact reason behind this surge remains unclear, there is speculation that it may be tied to internal exchange transfers or possible rebalancing strategies from $XRP-focused institutions.
With this increase in on-chain activity coinciding with a notable rise in $XRP’s market value, it appears the token is regaining momentum, reflecting renewed investor interest. This signals growing confidence in $XRP not only as a payment tool but also as an efficient investment option.
ETF buzz sparks optimism
$XRP payment volume spike is largely attributed to the buzz surrounding the $XRP ETF debut in North America.
Following its listing on the Toronto Stock Exchange, the 3iQ $XRP ETF has gained notable traction, emerging as Canada’s largest $XRP-focused exchange-traded fund. The token, currently the third-largest by market capitalization, has become a key point of attention in recent days.
This momentum has also raised expectations for a potential $XRP ETF approval in the U.S., significantly boosting investor sentiment, capital inflows, and market value.
As a result, investors are increasingly confident that $XRP could be poised for a major price explosion in the near term, driven by strong on-chain activity and institutional engagement.
Meanwhile, $XRP is showing bullish momentum, with its price surging 5.52% over the last 24 hours. As of press time, the token is trading at $2.08.