🪙 XRP Network Silence: Decline in Adoption and Activity from the 2024 Peak

Data shows that the XRP blockchain has experienced a sharp decline in activity and adoption metrics, indicating that the previous wave of speculation has faded.
🔸 New XRP addresses & Active supply have both decreased significantly
In a recent post on X, blockchain analytics firm Glassnode discussed the latest trends in new addresses and monthly active supply of XRP. The first metric measures the number of new wallets appearing on the chain each day for the first time, while the second tracks the amount of cryptocurrency that has participated in at least one transaction over the past month.
First, here is a chart showing how the number of new addresses has fluctuated on the XRP network over the past few years:
As shown in the chart above, the 7-day average of new addresses on the XRP network surged to a peak at the end of 2024. This significant spike coincided with a strong bullish rally in the cryptocurrency. Therefore, it appears that the upward momentum was accompanied by increased adoption.
From the chart, it can be seen that after the surge of new investors, there was a notable cooling-off in this metric in 2025. Adoption still experienced some spikes, but they were clearly lower than the peak in December 2024.
In 2026, this decline continued. Currently, only 2,700 new addresses join the network each day. This reflects an 85% decrease from the December 2024 peak, when this metric reached a value of 18,000.
Adoption is not the only metric that has slowed down for XRP. According to data from another metric shared by Glassnode, the 7-day average of the monthly active supply has also decreased sharply.
Network activity also saw a significant increase along with the bullish rally at the end of 2024, with 7.45 billion tokens becoming part of the active supply within one month.