XRP ledger transaction volume has plummeted 90% from its peak, but the price remains stable within a long-term downtrend channel, indicating that the market has absorbed this decline. On-chain activity has stabilized at a lower baseline level of actual transfers and infrastructure usage, filtering out speculative noise. Analysts point out that future price movements may depend on macroeconomic liquidity or regulatory catalysts, rather than a sudden rebound in trading volume. It is expected that after this prolonged period of compression, price volatility will increase.