XRP Ledger Payment Volume Collapses 90% as SHIB Consolidates and Bitcoin Weakens vs Gold
XRP Ledger payment volume fell nearly 90% over two weeks after a brief spike in early February, signalling a sharp decline in transactional demand and network utility. Daily payment flows reverted from multibillion-unit peaks back to baseline levels, suggesting reduced activity from exchanges and payment providers. Shiba Inu (SHIB) has entered a low-volatility consolidation phase, trading in one of its narrowest ranges in months with cooling volume and limited buying momentum — traders appear to be waiting rather than taking aggressive positions. Meanwhile, gold has strengthened above $5,000 per ounce on TradingView, pushing the Bitcoin-to-gold (BTC/XAU) ratio down from above 13.9 to about 13.46; one Bitcoin now buys fewer ounces of gold. The piece frames these trends as indicators of weakening transactional demand for XRP, muted trader participation for SHIB, and a short-term shift toward gold as a safe haven relative to BTC.
Bearish
The combined signals point to negative near-term implications for market sentiment and trading activity. A ~90% plunge in XRP Ledger payment volume is a direct indicator of collapsing transactional demand and lower utility — this often translates into selling pressure or stagnation for the asset until usage recovers. SHIB’s narrow-range consolidation with declining volume shows reduced trader participation and limited upward momentum; such patterns commonly precede either a volatility expansion to the downside or a prolonged sideways market. The weakening BTC/XAU ratio — driven by gold strength — suggests a short-term rotation into traditional safe havens, which can dampen risk-on flows into cryptocurrencies. Historically, sharp drops in on-chain payment activity (for example, network congestion/usage roll-offs) have correlated with price underperformance until on-chain demand returns. In sum, expect increased caution among traders: potential short-term downward or sideways pressure on XRP and SHIB, muted liquidity, and greater sensitivity of BTC to macro and safe-haven flows. Longer-term effects will depend on whether XRP utility recovers and whether macro drivers continue to favour gold over crypto.