XRP Network Activity Drops Sharply From 2024 Peak, Glassnode Data Shows
On-chain data from Glassnode shows XRP new address creation and monthly active supply have declined significantly from late-2024 highs, with daily new addresses now at 2,700 compared to peak levels. The pullback coincides with a broader fade in speculative interest following the cryptocurrency's recent rally.
Key Takeaways
- 1## New Address Creation Fades XRP daily new address formation has declined to 2,700 per day, according to Glassnode, down substantially from the late-2024 peak when the metric spiked alongside XRP's bull run.
- 2The 7-day average shows recovery attempts in 2025 that failed to match December 2024 levels, with the decline extending further into 2026.
- 3## Adoption Metrics Trail the Rally Glassnode's analysis tracks two key on-chain indicators: new addresses (wallets coming online for the first time on the network) and monthly active supply (the portion of XRP supply that engaged in at least one transaction over a 30-day period).
- 4Both metrics moved sharply higher during late 2024 as XRP rallied, but have retreated as speculative momentum cooled.
- 5The divergence suggests that investor inflows during the bull phase did not translate into sustained network participation.
New Address Creation Fades
XRP daily new address formation has declined to 2,700 per day, according to Glassnode, down substantially from the late-2024 peak when the metric spiked alongside XRP's bull run. The 7-day average shows recovery attempts in 2025 that failed to match December 2024 levels, with the decline extending further into 2026.
Adoption Metrics Trail the Rally
Glassnode's analysis tracks two key on-chain indicators: new addresses (wallets coming online for the first time on the network) and monthly active supply (the portion of XRP supply that engaged in at least one transaction over a 30-day period). Both metrics moved sharply higher during late 2024 as XRP rallied, but have retreated as speculative momentum cooled. The divergence suggests that investor inflows during the bull phase did not translate into sustained network participation.
Why It Matters
For Traders
Declining new address formation may signal weakening retail demand inflows, a potential headwind for price momentum if the trend persists.
For Investors
Low adoption growth relative to prior peaks suggests the 2024 rally was speculative rather than driven by fundamental network expansion or use-case adoption.
For Builders
A stagnant user base and active supply could indicate the network is not capturing sustained developer or end-user interest, raising questions about long-term competitive positioning.
