Recent blockchain data suggests that speculative interest surrounding XRP has weakened significantly since the end of 2024.
According to new analysis from blockchain analytics firm Glassnode, activity across the XRP network has declined sharply over the past several months. The number of newly created XRP addresses reportedly dropped from approximately 18,000 per day in December 2024 to just 2,700 daily addresses currently, representing an 85% decrease.
Network Growth Slows Dramatically
Glassnode also reported a steep decline in XRP’s monthly active supply during the same period. Daily active supply fell from roughly 7.45 billion XRP to nearly 2 billion XRP.
The analytics firm explained that the speculative enthusiasm that fueled XRP’s strong rally in late 2024 appears to have largely disappeared at the network level.
At the same time, market data points to a major shift in whale activity involving XRP. Data from CryptoQuant shows that XRP inflows from large holders into Binance have fallen to their lowest levels since November 2021.
The firm noted that the 30 day cumulative inflow metric surged to nearly 2.6 billion XRP in early March, signaling substantial transfers from whales to the exchange. Since then, inflows have steadily declined to around 736 million XRP.
Large transfers to exchanges are often interpreted as signs of potential selling activity or portfolio rebalancing by major investors. The continued drop in whale inflows during a volatile market environment suggests that selling pressure from large XRP holders has eased considerably in recent months.
Analysts See Possibility of Short Term Recovery
Despite weakening network activity, crypto analyst Ali Martinez identified a possible short term rebound setup for XRP.
According to Martinez, the TD Sequential indicator recently generated a buy signal on XRP’s four hour chart. The analyst noted that the same indicator has successfully identified several recent market reversals.
He pointed to a previous sell signal that appeared near the $1.46 level on May 6, which was followed by a roughly 5% price correction over the next two days.
Martinez believes the latest buy signal could indicate that XRP’s recent phase of local exhaustion is nearing an end, potentially opening the door for a recovery toward the $1.45 resistance level.
If XRP manages to break above key supply zones, the analyst identified $1.80 as a possible secondary upside target.#crypto#cryptonews https://t.me/coinsignalpublic https://coinsignals.net
