XRP Network Growth Collapses As New Addresses Fall 85% From December Peak

XRP New Addresses Slide From 18K To 2.7K

XRP’s network growth has weakened sharply since its late-2024 speculative surge. Glassnode data shows new addresses appearing on the XRP network have fallen from around 18,000 per day in December 2024 to roughly 2,700 today, an 85% decline.

The drop shows that fewer new wallets are entering the network at the same pace seen during XRP’s earlier rally phase. New-address growth is not the same as price demand, but it helps measure whether fresh users, traders, or automated wallet activity are expanding the network. A steep decline after a price-driven surge usually means the speculative wave has cooled at the usage layer.

Monthly active supply shows a similar slowdown. The amount of XRP moving within the monthly activity window has fallen from about 7.45 billion XRP per day in December to roughly 2 billion XRP per day, according to the same Glassnode chart shared by market analysts. That means less supply is actively changing hands onchain compared with the period when XRP’s rally had stronger participation.

Speculation Has Unwound Onchain

The timing is important because XRP’s late-2024 and early-2025 market structure was heavily driven by speculation around regulation, ETFs, Ripple’s institutional business, and a wider crypto rebound. Those catalysts helped bring attention back to XRP, but the latest network data shows the address-growth side has faded.

XRP still trades as one of the largest crypto assets by market capitalization, with CoinMarketCap placing the token near $1.39 to $1.41 and daily volume above $2 billion. Price has held a relatively tight range, but onchain expansion has not matched the asset’s headline visibility.

That disconnect has already appeared in the price action. XRP has struggled to build a clean breakout even as ETF inflows improved, with a recent XRP price and ETF flow update showing the token stuck near resistance while institutional demand returned.

ETF Demand Is Not Solving The Network Slowdown

ETF inflows can support price, but they do not automatically rebuild network activity. XRP funds may absorb supply and improve institutional access, while new-address growth and active supply measure a different layer: whether the network is seeing renewed wallet formation and token movement.

That split leaves XRP with two separate stories. The investment-access story has improved through ETFs, broader regulatory clarity, and Ripple’s institutional expansion. The network-activity story looks weaker, with new addresses and active supply far below the December peak.

Large-holder behavior has also complicated the setup. A recent XRP whale-pressure report showed major wallet movement creating a drag on sentiment even as ETF demand stayed alive. When whale pressure, weak new-address growth, and range-bound price action appear together, traders usually wait for stronger confirmation before calling for a sustained breakout.

XRP Needs Fresh Participation To Strengthen The Bull Case

The Glassnode data does not mean XRP is finished, but it does show that the December participation spike has largely unwound. A healthier recovery would need new addresses to stabilize, active supply to rise without panic selling, and price to reclaim resistance with stronger spot volume.

The key market zone remains close to the $1.35 to $1.45 range. A decisive move above $1.45 would give bulls a better technical case, while a break below $1.35 would weaken the structure and bring lower support levels back into focus. A recent XRP breakout-range analysis placed those levels at the center of the next major price decision.