[DigitalToday reporter Yoonseo Lee] Daily payment activity on the XRP Ledger (XRPL) has recently exceeded 500 million transactions, showing a clear rebound in network usage.

On June 25 (local time), blockchain outlet U.Today reported that despite continued price weakness, the number of active users has stabilised above recent lows and the number of payments is recovering to around 500 million.

The key issue is the gap between price and network indicators. XRP is trading around $1.03 and has not regained rebound momentum after losing a key support zone near $1.30 earlier this month. The price remains below the 50-day, 100-day and 200-day moving averages.

A break out of a range that had persisted for months was also presented as a signal confirming the bearish trend. Technically, it means selling pressure still has the upper hand.

On-chain indicators, however, show a different picture. Recent XRP Ledger data show active user participation has stabilised above recent lows and payment counts are rebounding again toward 500 million. The network held up usage even in a period when many digital assets struggled to maintain user participation. Strong network usage in the past has often appeared not at the same time as a price rebound, but ahead of it.

Still, high transaction volume alone makes it difficult to expect an immediate reversal. Macro uncertainty, weaker risk appetite and selling pressure across major cryptocurrencies persist, and some point out it is hard to confirm a bullish scenario until XRP regains the $1.18 to $1.20 zone and re-establishes itself above short-term moving averages.

The divergence between price and on-chain activity also leads to debate over how XRP captures value. An increase in payment activity on XRPL does not mean that demand immediately turns into buying pressure for XRP. Rising network usage signals greater use of the infrastructure, but for the token price to reflect it, demand to hold XRP itself or use it as a payment asset must also grow.

For this reason, the market is focusing less on the simple payment count and more on how directly XRP can absorb the benefits of increased network activity. A rebound in usage could be a positive factor over the long term, but in a period like the current one, with the price below key moving averages, the link between network growth and the token price must be confirmed first.

Ultimately, the point to watch is whether rising network usage can lead to a price recovery. If the price stays low while XRPL activity continues to increase, the market may interpret it as a signal of preparation for a future rebound. The current phase alone does not confirm a new bull market, but it has become clear that underlying demand could be higher than the chart suggests.