Daily new addresses on the $XRP Ledger have dropped sharply from the December 2024 highs, driven by a decline in speculative momentum.
$XRP network activity has slowed since the explosive rally that dominated the market in late 2024. As price action turned negative, new address creation and monthly active supply dropped with it, highlighting a cautious stance among market participants.
Key Points
- Network activity on the $XRP Ledger has dropped sharply from December 2024 highs as speculative momentum fades.
- New daily $XRP addresses drop 85% from 18,000 in December 2024 to 2,700 today.
- $XRP active supply has also dropped from 7.45 billion to 2 billion per day.
- The decline in activity does not necessarily indicate long-term weakness for $XRP.
New Wallet Creation Drops 85%
Recent on-chain data from Glassnode shows a steep decline in both wallet creation and active token movement, signaling that much of the speculative momentum behind the late 2024 price surge has cooled.
For the uninitiated, $XRP surged from around $0.50 in November 2024 to above $3 within months on the back of President Donald Trump’s election victory. Naturally, that type of rapid expansion attracted heavy speculative inflows across the network.
The data shows that one of the clearest shifts appears in new wallet creation across the $XRP Ledger. In December 2024, the network added roughly 18,000 new addresses per day during the height of the rally. Today, that figure has dropped to approximately 2,700 new addresses per day, marking an 85% decline over the past several months.
$XRP Active Supply Also Shows Declining Participation
At the same time, $XRP’s monthly active supply metrics paint a similar picture. During the late-2024 rally, active supply averaged around 7.45 billion $XRP per day as trading activity and capital rotation accelerated across the ecosystem.
However, current readings indicate that the figure has fallen to roughly 2 billion $XRP per day. The sharp slowdown suggests that fewer participants are actively moving tokens across the network compared to the highly speculative conditions seen during the Donald Trump-inspired rally.
Such a decline in network activity is in the likeness of a typical post-bull-market uptrend. As volatility declines, short-term traders usually step back, leading to lower transaction activity and reduced speculative participation.
$XRP Price Resilient as Accumulation Grows
Notably, the decline in activity does not necessarily indicate long-term weakness for $XRP. Instead, it reflects how quickly speculative demand can aggressively fade.
Meanwhile, despite the slowdown, the $XRP price has shown resilience. While it remains well below its July 2025 peak of $3.66, it has retained some of the gains. The coin is still up 176% from the November 2024 price, despite intense bearishness.
Moreover, buying pressure for the next rally is beginning to emerge. A recent report highlighted that the $XRP reserve on leading crypto exchange Binance is shrinking massively, matching levels last seen in March
Whales are responsible for over 90% of these outflows, adding another layer of positivity. Such positioning highlights the conviction that $XRP’s long-term trajectory remains bullish.
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