This article has been republished with permission from Binance News.
According to CryptoPotato, September has been a successful month for XRP, with significant milestones such as increased daily on-chain transaction volumes, a surge in single-day token circulation, and a rise in development activities. On September 1, XRP recorded a 7-month high in daily transaction volumes, with 4.8 billion tokens changing wallets. This is the second-largest daily transaction volume this year, with the highest recorded in February at 5.2 billion XRP. However, these figures still fall short of XRP’s historical high of 6.99 billion XRP traded in a single day.
XRP’s 7-month peak in daily transaction volumes coincided with a surge in 1-day token circulation, reaching 2.03 billion tokens. The record for 1-day XRP circulation still stands at 5.79 billion XRP, set in December 2022. There was also a significant increase in development activities within the XRP network towards the end of August and the beginning of September. According to Santiment, on August 18, there were about 2.52 development activities within the XRP network. By the end of August, the number of development activities had increased to 7.95. On September 1, the number of development activities reached 14.86, another 7-month high. On September 7, the number of development activities was about 12.48.
Santiment suggests that the dual record-breaking signals utility spikes within the XRP blockchain. Analysts are attributing these positive metrics to Ripple’s recent court victory. Despite these achievements, XRP still faces strong resistance at $0.500.