XRP Ledger (XRPL) network activity is slowing rapidly, sending daily payment counts to their lowest level in nine months. With prices and on-chain indicators weakening at the same time, market attention is focused on whether XRP can hold the psychological support level of $1.

On July 20 local time, blockchain outlet Decrypt reported that daily account-to-account payments on XRP Ledger were tallied at 325,888 on July 18. That was down 80.7 percent from about 1,694,000 recorded on May 28, 2026. Compared with this year’s peak of about 2,188,000 in February, the decline reaches 85 percent.

XRP Ledger had kept daily payments above 500,000 after falling to 28,760 in October last year, but slipped to around 400,000 from late June and has recently dropped into the 300,000 range.

There were brief rebounds, but the recovery was limited. After hitting the July 18 low, payments edged up to 327,497 on July 19 but still stayed below 400,000 a day. The market interprets the slowdown in network activity as a sign it is not a temporary adjustment but is extending into a trend of weakness.

Other on-chain indicators showed the same pattern. XRP Ledger active users, tallied based on source and destination tags, fell to 123,986 on July 19. Total network transactions also declined to 1,129,000 the same day. That is down about 78 percent from this year’s peak of 5,172,000 recorded on April 6.

The network contraction was reflected in the price. XRP has fallen more than 70 percent to trade at around $1.08 after a peak of $3.6 recorded in July 2025. It is down about 41 percent so far this year, and while it has rebounded slightly this month it still has not regained $1.1.

XRP also showed high volatility earlier this year. It rose to $2.41 in January and then plunged to $1.11 in just a few weeks. It later recovered $1.40, but turned lower again in June as the $1.10 to $1.40 support range broke down.

The market also sees investor sentiment as sharply weakened. Daily payments on XRP Ledger have fallen from about 1.69 million at the end of May to around 320,000, and total transactions have also dropped from 5.17 million in early April to around 1.12 million. This is seen as a typical bearish phase in which both price and network usage decline at the same time.

The biggest variable ahead is the $1 support level. XRP is currently trading near the psychological support line of $1. The market raises the possibility of further declines to the $0.70 to $0.80 range if it fails to hold that level.

As a result, a key point to watch will be whether on-chain indicators such as daily payments, active users and network transaction volume can recover together, rather than a simple price rebound, in determining whether XRP’s trend can turn.