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**Major XRP Metric Drops by 97%**
U.Today has recently reported on the astonishing 1.9 trillion SHIB transactions in just 24 hours, leaving many wondering what’s behind this sudden surge. However, amidst this excitement, it appears that another significant metric for Ripple’s XRP token has taken a drastic turn.
According to recent data, the major on-chain transaction count for XRP has dropped by a staggering 97%. This steep decline raises concerns about the asset’s utility-based use case and potential implications for its price action.
As discussed in previous reports, the cryptocurrency market is known for its unpredictability. Traders may have taken advantage of the XRP price spike, resulting in a decrease in transaction activity. With many assets consolidating or retracing after strong runs, it’s not uncommon to see mixed sentiments across the broader crypto space.
XRP’s unusual design choice and recent developments may also be contributing factors. In an exclusive interview with U.Today, DOGE founder, Billy Markus, shed light on Dogecoin’s unique strategy, stating that “DOGE is not just a meme coin, but a community-driven project focused on promoting decentralized governance and community engagement.”
In other news, Elon Musk recently criticized the SEC over its regulatory approach to cryptocurrency, drawing support from Ripple CEO, Brad Garlinghouse.
We will continue to monitor these developments and provide more insights as they become available.
Source: u.today
