XRP Ledger has experienced a significant drop in activity, with daily transactions falling from over 1.5 million in early October to approximately 525,000. This decline indicates reduced on-chain throughput and diminished short-term utility for XRP, unless settlement volumes recover. Additionally, payment volume and transaction success rates have stabilized, according to data from ledger explorers and market analysts. Currently, XRP is trading near $2.50, encountering resistance at the 200-day EMA, which is positioned around $2.80 to $2.90. The market is closely watching for any signs of recovery in transaction volumes that could bolster XRP's utility and price movement.