XRP hits monthly low as RLUSD trials and on-chain activity surge

XRP’s market price fell to monthly lows this week before a modest rebound, even as activity on the XRP Ledger surged amid new institutional testing and shifting onchain flows. The token closed Tuesday’s trading day at $2.20, its weakest level since early July, dipped to a monthly low near $2.06 and later recovered to about $2.40 by Thursday, according to market data cited by analysts.

The price action coincided with a sharp uptick in ledger activity. Analytics firm Santiment reported more than 21,000 new XRP wallets created in a 48 hour span, the highest rate of wallet growth in eight months. Data from CryptoQuant showed 954,000 transactions on the XRP Ledger’s native decentralized exchange, marking one of the busiest recent days for onchain trading. Normally such metrics are taken as signs of improving network health and adoption, but this episode produced a divergence between usage and market value.

Market observers say the disconnect suggests much of the surge may be structural rather than retail-driven. Analysts pointed to persistent large-scale transfers and trading patterns consistent with whale distribution, arbitrage and automated strategies as likely contributors to the...