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Wu said that according to Glassnode data, the average daily transaction fees on the XRP network over the past 90 days (90D-SMA) have decreased from approximately 5,900 XRP in February 2025 to about 500 XRP currently, a decline of 91.5%. Glassnode stated that this change is not a normal adjustment in the fee market, but rather reflects a significant contraction in organic trading demand on the XRP network since the peak of the speculative frenzy.