XRP’s trading volume has fallen sharply compared with previous periods of major market activity, but crypto analyst Dark Defender believes the decline requires closer examination. In a recent
XRP’s trading volume has fallen sharply compared with previous periods of major market activity, but crypto analyst Dark Defender believes the decline requires closer examination.
In a recent tweet, the analyst shared a 12-year XRP volume chart showing periods of significant activity in 2017 and 2021, followed by a prolonged decline that has brought volume close to its lowest levels.
According to Dark Defender, XRP is now trading around the $1 level while several developments are changing how much of the token remains available for regular market activity.
XRP tapped the psychological threshold.
I will share with you the 12 years of XRP #volume chart:
2017 screamed. 2021 screamed. 2026, near silence, while price holds the one dollar the whole market watches.
Most read the quiet as death. Now read what's actually happening to… pic.twitter.com/pIaQuIfG7t
— Dark Defender (@DefendDark) August 11, 2026
Dark Defender’s chart tracks XRP volume from 2014 through 2026. It shows relatively low activity during XRP’s early years before volume increased substantially in 2017. Another major increase appeared around 2021, when XRP recorded some of its largest volume levels on the chart.
Since then, volume has steadily declined. The 2026 portion of the chart shows activity close to the levels seen during XRP’s earliest years.
Dark Defender described the current environment as “near silence” while noting that XRP has continued to hold around the $1 price level. The analyst believes the low volume reflects changes in XRP’s circulating availability rather than simply a lack of market interest.
A key part of Dark Defender’s explanation involves XRP held on exchanges. The analyst stated that tracked exchange reserves have fallen from roughly 4 billion XRP to about 1.6 billion XRP, placing reserves at an eight-year low.
The post also cited 992 million XRP held through U.S. spot ETFs. Dark Defender considers this supply unavailable for regular market circulation, saying it is “Not coming back.”
The analyst further highlighted a $280 million RLUSD vault that recently began accepting XRP as loan collateral. According to the post, the facility could reach 5 billion XRP over six months.
Dark Defender believes these developments can reduce the amount of XRP that changes hands in the open market.
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The analyst also pointed to activity on the XRP Ledger involving tokenized real-world assets. Dark Defender stated that $4.3 billion worth of tokenized real-world assets are already live on the ledger, representing a 59-fold increase since January 2025.
For Dark Defender, these developments change how investors should interpret XRP’s declining volume. The analyst wrote that “Volume dies when coins stop changing hands,” linking the lower activity to XRP being held for specific uses rather than continuously traded.
The post ultimately presents XRP’s current market structure as a balance-sheet story. Dark Defender said XRP could increasingly serve as collateral that users borrow against without selling the underlying tokens.
The analyst concluded that the current volume levels deserve close consideration as XRP remains near $1.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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The post XRP Tapped the Psychological Threshold. Here’s the Significance appeared first on Times Tabloid.
