Activity on the Ripple (XRP) network has dropped sharply since late 2024, according to the latest findings by blockchain analytics firm Glassnode.
In fact, new XRP addresses fell from around 18,000 per day in December 2024 to 2,700 per day currently, which represents an 85% decline.
Network Growth
Over the same period, monthly active supply also dropped from 7.45 billion XRP/day to nearly 2 billion XRP. Glassnode explained that the speculative momentum that drove the asset’s late-2024 rally has largely faded at the network level.
While on-chain activity has weakened, recent market data also reveals a notable change in terms of whale behavior around XRP. CryptoQuant found that XRP inflows from whales to Binance have dropped to their lowest level since November 2021. The analytics firm said the 30-day cumulative inflow metric previously climbed to nearly 2.6 billion XRP in early March, which evidenced heavy transfers from large holders to the exchange. Since then, the figure has steadily declined to around 736 million XRP.
Large transfers to exchanges are commonly associated with potential selling activity or portfolio adjustments by major investors. The continued decline in inflows during broader market volatility indicates that whale-related selling pressure has eased significantly in recent months.
Rebound Setup
Amid the decline in whale inflows, Ali Martinez observed a potential short-term recovery signal for XRP. The TD Sequential indicator reportedly flashed a buy signal on XRP’s 4-hour chart, a setup that has accurately identified several recent trend reversals, as per the analyst. He referenced a sell signal that appeared near the $1.46 level on May 6, which was followed by a 5% correction over the next two days.
According to Martinez, the latest buy signal means that the recent local exhaustion phase may be ending, which opens the possibility for a rebound toward the $1.45 resistance level. He further identified $1.80 as a secondary upside target if the crypto asset manages to break above overhead supply zones.
The post Ripple (XRP) Activity Crashes 85%: Here’s What the Latest On-Chain Data Reveals appeared first on CryptoPotato.
XRP’s speculative momentum appears to be fading, according to Glassnode. AA News, Crypto News, social, SocialFB, Ripple (XRP) Price
This articles is written by : Nermeen Nabil Khear Abdelmalak
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