The XRP Ledger (XRPL) has seen a parabolic surge in activity, with on-chain payment volume soaring 1,300% in the past 24 hours. According to XRPScan, payment volume skyrocketed to 4.11 billion XRP, up from just 295.67 million the day before. This spike marks a dramatic uptick in network utility even as XRP’s price remains relatively stagnant, trading in the narrow range between $2.21 and $2.32.
The surge in volume coincides with a broader narrative shift around XRP’s real-world utility. On June 9, payments on XRPL also reached a monthly high of 1.1 million, signaling growing adoption. A 117.41% increase in daily payment activity further supports the thesis that XRP is more than just speculative—it’s functional. “We’re seeing real utility in motion — this is exactly what we’ve been waiting for,” noted one XRP community member on Reddit.
Amid this frenzy of on-chain activity, the odds of a U.S.-approved XRP exchange-traded fund (ETF) have climbed to 87%, according to prediction platform Polymarket. This increase in confidence follows growing speculation around an “Altcoin ETF Season,” as forecasted by Bloomberg analyst Eric Balchunas after the SEC began reviewing Solana ETF filings.
The upcoming deadlines for SEC decisions on XRP ETFs add to the momentum. Franklin Templeton’s spot XRP ETF application is due for a ruling by June 17, while ProShares’ proposal awaits a verdict by June 25. However, the shadow of Ripple’s ongoing legal battle with the SEC continues to loom, leaving room for uncertainty.
Still, XRP’s increasing integration with real-world finance—evidenced by new tokenization partnerships with Ondo Finance and Guggenheim—is helping Ripple solidify its reputation as a utility-driven project. Combined with major acquisitions and international expansion, this has reignited bullish sentiment.
Also Read: XRP Price Gains Momentum as Long-Term Holders Accumulate and Market Signals Turn Bullish
If ETF approval materializes and transactional growth persists, XRP could be poised for a major breakout. While the legal clouds haven’t cleared entirely, the fundamentals and market structure suggest that the coin might finally be on the cusp of its next bull run.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
