XRP Ledger network activity has suffered a dramatic decline over the past 18 months, with new daily addresses crashing from nearly 18,000 in December 2024 to just 2,700 today – an 85% drop according to Glassnode data. The active supply of XRP tokens moving on the network has also plunged from a peak of 7.45 billion to around 2 billion per day, indicating a sharp reduction in token velocity.
The collapse in network metrics suggests fading retail speculation, as short-term traders exit the market and holders move tokens off exchanges. This comes even as spot XRP ETF holdings have grown, absorbing 1.26% of total supply and reaching $1.1 billion in institutional ownership. GraniteShares recently filed for leveraged XRP ETFs, but the on-chain data paints a picture of waning grassroots engagement.
Analyst Ali Martinez identified $1.45 as a critical resistance level: a daily close above could trigger a move toward $1.80, while failure to break that level may keep XRP within the $1.36–$1.43 range. A drop below $1.36 would weaken the short-term setup. XRP traded near $1.38, with the 50-day moving average also around that level and the 200-day near $1.77.
