The XRP Ledger has entered a period of notably weaker on-chain activity, with key network metrics sliding to some of their lowest levels this year.
Data from Santiment shows that daily active addresses recently dropped to 25,350, marking the second-lowest reading recorded in 2025. Simultaneously, new wallet creation fell to 2,130, its lowest point since November 2024. These figures underscore a sharp deceleration in network usage, even as XRP has maintained resilience above the critical $1 psychological threshold.
The decline was not abrupt. Active addresses trended lower over several weeks after peaking at stronger levels earlier in June, with each successive trough settling below the last, signaling a persistent fade in participation. The downtrend has extended beyond the lows highlighted by Santiment, with daily active addresses subsequently slipping further to 22,888.
Mid-June Recovery Loses Steam
Although network activity declined in early June, the trend paused briefly on June 15, when increased dip buying buoyed XRP’s price and the count of active addresses. For a short window, the move suggested renewed interest and the potential for a sustained activity recovery.
However, the momentum proved short-lived. XRP soon retreated to its familiar $1.05 to $1.15 trading range, while active addresses resumed their descent. The network never reclaimed the activity levels observed before or during the brief rally.
Market data indicates the rebound stemmed primarily from short-term buying by existing holders rather than an influx of fresh capital. Notably, the network failed to attract a noticeable wave of new users during that period. Data on wallet creation supports this assessment: new address growth rose but failed to match the rally and the uptick in wallet activity. Essentially, the increase in activity originated almost entirely from users already on the network, not newcomers joining the XRP Ledger.
Stable Price Masks Deteriorating Network Health
The XRP ecosystem is now witnessing a widening divergence between the token’s price and XRPL on-chain activity. While network participation has continued to weaken, XRP has held relatively steady around $1.0962. The token has avoided a major breakdown below $1 even as active addresses and wallet creation have fallen to multi-month and year-to-date lows.
This disconnect suggests that existing liquidity and large holders have persistently supported the price despite fewer users actively engaging with the network. In a healthier market environment, price stability at these levels would typically coincide with expanding network activity.
XRP Requires a Strong Catalyst to Reverse Trend
Santiment identifies several developments that could help reverse the current trajectory and support a move toward $1.50. These include wider adoption of RLUSD, more tokenized assets on the XRP Ledger, increased institutional payment activity, continued expansion of the EVM sidechain, and the launch of lending tools.
If these initiatives gain genuine traction, they could attract more users to the network and provide a firmer foundation for higher prices. For now, however, the data shows little indication that these potential catalysts have begun to drive meaningful network activity.
