Chart Shows About $49.7 Billion in XRP Ledger Transfer Value

A chart shared Oct. 19 put the dollar value of XRP (XRP) transferred on the XRP Ledger at about $49.7 billion, drawing attention to a possible price recovery without directly measuring buying.

The reading was well above the chart’s preceding values. Analyst Ali Martinez identified $1.25 as a possible price floor and $2 as a potential target if XRP holds that level. The transfer figure does not establish that a bottom has formed.

Transfer value measures coins moved on the ledger using XRP’s price at the time of each transfer. It differs from exchange trading volume, which tracks trading activity. A transfer between wallets can add to the on-chain total without anyone buying XRP.

The same coins can also contribute more than once if they move repeatedly. As a result, the roughly $49.7 billion reading does not mean buyers spent that amount on XRP or that an equivalent amount of new money entered the asset.

Martinez’s price outlook depends on XRP holding $1.25. Subsequent price movement, rather than the transfer total, will determine whether that condition is met.