The number of new addresses per day on the XRP Ledger (XRPL), which it uses XRP images as its benchmark, it has fallen by 85% from December 2024 to May 7.
XRPL reported 18,000 new addresses per day in December 2024, but this number dropped to 2,700 on Thursday, according to data from Glass node checked by Finbold. With a decrease of 15,300 new addresses per day on the XRP Ledger at the moment, its hypothetical all-time high (ATH) has decreased significantly at press time.
A notable drop in new users per day on XRPL has added to XRP’s monthly decline, depending changes from Glass node. In addition, the monthly supply of the network dropped from 7.5 billion XRP per day to 2 billion tokens per day during this period.
Despite this, the number of addresses on the XRP Ledger has grown steadily over the past few years, reaching ATH, according to Finbold. report.
XRP price trends in the middle of the low XRP Ledger
A significant drop in the launch of the XRP Ledger has weighed on the token’s value at the same time. For example, this altcoin is down 24% year-to-date (YTD), trading at around $1.39 at the time of publication. Likewise, its market capitalization has fallen in line and currently hovers around $86.3 billion.
XRP’s price has struggled to exceed $1.50 since it was issued in February until now, according to Finbold. he realizedfurther weakness in the XRPL setup may indicate bearish sentiment. However, if the number of new addresses per day on the XRP Ledger recovers soon, the token may have a stable recovery, emphasizing the important role of online services in the development of the XRP market.
