According to a recentreport by CoinMetrics, XRP has recorded a 10.77% decline in wallet activity over the past week. This is the largest drop among major altcoins (behind only Ethereum).

Bitcoin, the top cryptocurrency by market cap, has also recorded a 1.16% decline.

Meanwhile, Chainlink (LINK) has logged a 5.45% increase in wallet activity. Cardano's (ADA) has also seen negligible growth of 0.41%.

That said, XRP has seen a 25.5% increase in transaction count. Meanwhile, Bitcoin has logged a 7% decrease.

XRP has also recorded a whopping 130% increase in futures volume amid increasing volatility. However, its open interest has declined by 1.42%.

The cryptocurrency market has suffered a severe correction over the past week amid the global market mayhem.

The Ripple-linked cryptocurrency has underperformed some other major cryptocurrencies, with its market cap declining by more than 13%.