There has been an almost 80% fall in XRP payment activity from where it stood at its July 2025 high, says Nick of Cheeky Crypto. Yet for all the drama of the decline, he would have you believe the figures are not indicative of waning interest in the technology.
From Record Highs to Sharp Decline
To put it in perspective, XRP was at the top of its game in July 2025 with a price of around $3.66 and the Ledger processing more than a million transactions a day. But as we moved into October 2025, that volume was down to the half-million mark, and by July 2026 it had slumped to 325,000 daily. It is a sharp enough drop to be making waves with market watchers and analysts.
Tokenization Shifts Transaction Dynamics
According to Nick of Cheeky Crypto, one should not read too much into the lower XRP payment activity figures as a sign of waning interest or utility. He argues that the real story is the upswing in tokenizing real-world assets on the XRP Ledger. This process allows for several transactions to be bundled together; value is still being transferred in meaningful amounts, but it does not show up as an equal number of discrete payments.
Nick has some hard numbers to back this up: $4 billion in real-world assets are already tokenized on the ledger. It is evidence of a platform whose use cases are expanding to encompass more complex financial products and services on-chain, rather than being limited to straightforward payments.
Transaction Volume: Beyond the Numbers
Reportedly, the average size of a transaction has gone up to offset the decline in their numbers. Nick puts it at about $10 now for a typical payment, as opposed to the $1 mark of earlier times. In his view, that means the total value being transferred can be robust if not on the rise, even with fewer transactions to show for it.
He is wary of anyone using those figures to write off the XRP Ledger as in decline. Nick suggests waiting for more complete data before making any judgments on the network’s utility or health. The raw numbers on payment activity do not paint the whole picture in an ecosystem that is changing so quickly.
Source — Cheeky Crypto: https://www.youtube.com/watch?v=KlHuXd_bMoI