XRP: network activity is growing, but new demand is lacking.

XRP fell to $1, the lowest daily closing level since November 2024. From its January high of around $3.3, the asset has lost approximately 69%, indicating a significant cooling of market demand and worsening sentiment surrounding the altcoin. A decline of this scale also shows how dramatically the balance between buyers and sellers has shifted since the peak. XRP is now in a zone where the market will be watching particularly closely for the asset’s ability to form stable support.

At the same time, on-chain activity looks mixed. In August, the average number of active addresses rose to around 35,700—approximately 33% more than in July. However, the number of new addresses barely changed, standing at around 2,260 per day. This is an important signal: the network has become more active, but it is gaining almost no new participants. In other words, the increase in activity is currently driven more by the behavior of the existing audience than by the expansion of the ecosystem.

At this stage, several indicators are worth monitoring:
• New addresses—their steady growth could indicate the emergence of new demand.
• Active addresses—further growth will show whether interest in the network is being sustained.
• Price and volumes—a price recovery amid high activity would send a significantly stronger signal.
• The behavior of long-term participants—it may show whether accumulation is forming or whether the market is continuing to distribute assets.

The main point of interest for XRP now lies precisely in the gap between network activity and the inflow of new participants. If active addresses continue to grow and the number of new addresses finally begins to accelerate, this could become a positive signal for a recovery in demand. If activity remains high only thanks to existing users, the market may continue to need a new catalyst for a full reversal.

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