Payment transactions on the XRP Ledger have plummeted to 320,747, marking the lowest activity since October last year, according to XRPScan data. This figure is significantly below the average of over one million transactions recorded from March to early May. Additionally, the number of active addresses has dropped below 10,000, also the lowest since October. The decline in activity is further reflected in the reduced number of XRPs destroyed as fees, which has fallen to 1,500, the lowest in months. This slowdown coincides with a decrease in the creation of new accounts. Despite these trends, a Messari report remains optimistic about the XRP Ledger's future, citing increased institutional adoption through strategic partnerships and acquisitions. However, XRP has not mirrored Bitcoin's recent price surges, suggesting potential weakening demand.