The XRP Ledger has seen a surge in payment activity over the past 24 hours, with transaction volume skyrocketing by 2,633.3% to approximately 137.7 million XRP.

Despite this significant increase in payment volume, it remains below its 30-day average of approximately 496 million XRP and its all-time high of around 7 billion XRP. Furthermore, this rebound in payment activity has not immediately translated into a price increase for XRP, which currently remains dominated by bearish momentum.