XRP Transaction Demand Collapses 91.5% as On-Chain Activity Hits Record Lows

XRP's network is showing signs of acute stress, with transaction demand plunging 91.5% while both activity metrics and investor profitability have dropped to record lows. The deterioration in on-chain fundamentals has shifted trader attention toward a key support band between $1 and $0.65, with the $0.65 level drawing particular focus.

What the On-Chain Data Shows

The 91.5% collapse in transaction demand is the headline number, but it sits alongside a broader on-chain deterioration. Network activity and investor profitability have simultaneously fallen to record lows — a combination that suggests the current weakness is not simply a sentiment blip but a measurable contraction in actual usage of the XRP ledger. Declining transaction throughput of this scale typically reflects fewer participants moving capital through the network, whether from reduced speculative interest, lower institutional flows, or both.

The $0.65 Support in Focus

With on-chain metrics offering little near-term encouragement, traders have anchored their attention to price structure. The $1 to $0.65 range has emerged as the zone the market is watching most closely, and $0.65 in particular is being treated as a critical support level. Support at that level would represent a meaningful floor test; a failure there would carry technical weight given the backdrop of weakening fundamentals.

The Macro Context

XRP's slide fits a broader pattern in crypto markets where speculative activity has compressed and on-chain usage metrics have retreated from prior highs. Record-low investor profitability — meaning the proportion of holders sitting on gains has shrunk to an extreme — can historically signal either capitulation or a prolonged accumulation phase, though on-chain data alone does not resolve which scenario is playing out. Until transaction demand recovers from its current historic low, any price stabilization around $0.65 will need to be weighed against the absence of underlying network momentum to support it.