XRP Ledger, New Wallets Evaporate 85%...Active Supply Also Plummets 'Shock'

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New address generation on the XRP Ledger has plummeted compared to its peak in December 2024. As the speculative buying frenzy that heated up the market in late 2024 cooled down, both new wallet creation and active supply decreased simultaneously.

According to The Crypto Basic, a cryptocurrency specialized media outlet, on May 8, recent on-chain data from Glassnode shows a clear slowdown in both XRP Ledger wallet creation and active token movement. XRP's network activity cooled after a strong rally in late 2024, and as price trends turned bearish, market participants adopted a more cautious stance.

The most significant change is in new wallet creation. At the peak of the rally in December 2024, the XRP Ledger added approximately 18,000 new addresses per day. However, the number of new addresses has recently dropped to around 2,700 per day, an 85% decrease in just a few months. The original text explained that XRP, which was around $0.5 in November 2024, surged past $3 within months after Donald Trump's presidential election victory, attracting massive speculative capital.

The active supply metric also pointed in the same direction. During the late 2024 rally, XRP's monthly active supply averaged around 7.45 billion XRP per day. Recent figures have dropped to approximately 2 billion XRP per day. Compared to the period when trading activity and capital turnover rapidly increased, the current volume of tokens actually moving on the network has significantly decreased.

The Crypto Basic noted that a decrease in network activity does not necessarily indicate a long-term bearish trend. It explained that when volatility decreases, short-term traders withdraw, and a reduction in trading activity and speculative participation is a common phenomenon after a strong bull market. The original text stated that while XRP remains below its July 2025 peak of $3.66, it still maintains a 176% increase compared to its November 2024 price.

The possibility of renewed buying pressure was also mentioned. Citing a recent report, The Crypto Basic stated that Binance's XRP reserves have significantly decreased, and this trend aligns with levels not seen since March. The original text assessed that whale investors account for over 90% of the outflows, suggesting that this positioning demonstrates confidence in XRP's long-term trajectory.

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