Activity on the Ripple (XRP) network has declined sharply since late 2024, according to recent data from blockchain analytics firm Glassnode.
New XRP addresses created per day dropped from roughly 18,000 in December 2024 to around 2,700 today, an 85% decrease.
Network Growth
During the same period, the monthly active supply fell from about 7.45 billion XRP per day to nearly 2 billion XRP. Glassnode noted that much of the speculative momentum behind XRP’s rally in late 2024 has largely dissipated at the network level.
On-chain activity has weakened alongside a shift in whale behavior. Analytics provider CryptoQuant reported that inflows of XRP from large holders to Binance have fallen to their lowest level since November 2021. The 30-day cumulative inflow metric peaked at nearly 2.6 billion XRP in early March—indicating heavy transfers from major holders to the exchange—but has since declined steadily to about 736 million XRP.
Large transfers to exchanges are often interpreted as potential selling or portfolio rebalancing by big investors. The sustained decline in whale inflows amid market volatility suggests that selling pressure from whales has eased significantly in recent months.
Rebound Setup
Despite lower on-chain activity and reduced whale inflows, analyst Ali Martinez highlighted a possible short-term recovery signal for XRP. The TD Sequential indicator reportedly produced a buy signal on XRP’s 4-hour chart, a setup that has successfully anticipated several recent trend reversals. Martinez pointed out a sell signal near $1.46 on May 6, which preceded a roughly 5% correction over the next two days.
He argues the new buy signal could mark the end of a local exhaustion phase and open the door for a rebound toward the $1.45 resistance level. If XRP clears overhead supply zones, Martinez identified $1.80 as a secondary upside target.
In summary, key on-chain metrics show a marked slowdown in network activity and reduced exchange inflows from large holders, signaling lower whale-driven selling pressure. At the same time, short-term technical indicators suggest a limited rebound is possible if buying momentum returns and supply barriers are overcome.