As the broad crypto market finds its balance amid rising pressures from increasing numbers of sellers, XRP has also seen its on-chain activities decline over the last month, according to data from XRPSCAN. XRP’s payment volume down The data shows that XRP’s on-chain payment volume has declined from the $538,949,662 it achieved on May 2, 2025, to just $295,104,737 as of June 2, 2025. While this marks a significant drop of about 45% in XRP’s month-to-month payment volume, it signals a notable decrease in the use of XRP for executing transactions over the past month. This negative trajectory has been experienced across the broader crypto market due to pressures from macroeconomic distress. Following this plunge in XRP’s payment volume, the price of XRP has remained stable around $2.17 after experiencing a significant decrease, falling as low as $2.10 from a high of $2.40 in the past week. XRP’s poor on-chain performance was fueled by the high volatility witnessed across the crypto market last week. This resulted in XRP recording a sharp weekly decline of 6.15% in price, according to data from CoinMarketCap. The fall in XRP’s payment volume indicates a significant downturn in the token’s on-chain transactions, further suggesting a reduction in institutional activity and demand for the asset. Nonetheless, XRP has maintained stable price movement over the last day, hovering around $2.16 with a modest price increase of 0.12% as of press time. While Ripple has established regulatory clarity with the U.S. SEC, and its ETF launch is already in view, investors remain optimistic about positive returns in its price performance. However, its declining on-chain activity has triggered concern among investors as to the reason behind the negative trend. Moreover, the poor on-chain performance has left market participants wondering whether the recent price dip is a precursor to a major breakout, as XRP has long positioned itself as a high-efficiency payment network. Meanwhile, there are speculations that this might signal an emerging bear market, as bullish momentum appears to be slowing down.