XRP Ledger Activity Drops 85% Amid Institutional Rise

Network activity on the XRP Ledger has plummeted since late 2024, with new daily addresses dropping 85 percent from around 18,000 in December to approximately 2,700 to 5,000 currently, according to data from blockchain analytics firm Glassnode. Over the same period, monthly active supply fell more than 70 percent, from 7.45 billion XRP per day to roughly 2 billion XRP.

The decline marks the end of the speculative surge that fueled XRP's late-2024 price rally, as retail investor participation wanes. Glassnode data shows new addresses, often a proxy for fresh retail entrants, peaked amid heightened market excitement but have since reversed sharply through 2025. Reduced active supply reflects lower token circulation and trading volumes, signaling diminished transactional demand.

Whale activity has also eased. Analytics firm CryptoQuant reported that XRP inflows from large holders to Binance, typically linked to selling or portfolio shifts, hit their lowest levels since November 2021. Cumulative 30-day inflows dropped from nearly 2.6 billion XRP in early March to about 736 million XRP, indicating lighter selling pressure amid broader market volatility.