XRP New Addresses, Active Supply Plunge Amid Shift to ‘Institutional Rails’
TL;DR
New daily XRP addresses have plummeted 85% from 18,000 to 5,020, while monthly active supply dropped 73%. Despite this, institutional use of tokenized assets on the XRP Ledger is rising, with over $2.43 billion in tokenized RWAs.
Key points
- New daily XRP addresses fell 85% from December 2024 to 5,020
- Monthly active supply down 73% from 7.45 billion to 2 billion XRP
- Institutional use of tokenized RWAs on XRPL has crossed $2.43 billion
Mentioned in this story
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In brief
- New daily XRP addresses fell 85% from 18,000 in December 2024 to 5,020, with monthly active supply down 73% over the same period.
- Ondo, Kinexys, Mastercard, and Ripple completed the first real-time cross-border settlement of tokenized Treasuries on a public blockchain.
- Tokenized RWAs on XRPL have crossed $2.43 billion, with tokenized US Treasuries alone exceeding $403 million, signaling institutional use is rising, Decrypt was told.
XRP network activity has fallen to its lowest level in years, even as a coalition of global financial institutions completed the first real-time cross-border settlement of tokenized assets on the public blockchain.
New daily addresses on the XRP Ledger have fallen over 80% from approximately 18,000 in December 2024 to 5,020 at the time of writing, according to a Friday Telegram post by Glassnode. Monthly active supply also declined more than 70% over the same period, from 7.45 billion XRP to roughly 2 billion XRP per day.
“The network is shifting from retail speculation only to institutional rails,” Marcin Kazmierczak, co-founder of RedStone, told Decrypt. “That transition rarely looks pretty in the address chart.”
The drop reflects speculative retail rotating out following the late-2024 rally rather than institutional usage collapsing, Kazmierczak said, with the two trends moving in opposite directions.
Connecting XRP to interbank settlement rails
XRP is currently trading at $1.39, down 1.6% over the past 24 hours, according to CoinGecko data, with gains of less than 1% over the past week and month.
Investor sentiment on the broader outlook for altcoins remains muted. On prediction market Myriad, owned by Decrypt’s parent company Dastan, users assign a 13% chance to the possibility of an “alt season” before July, down from around 20% over the past week.
Ripple, along with Ondo Finance, JPMorgan's Kinexys, and Mastercard, completed a pilot transaction connecting the XRP Ledger with interbank settlement rails on Thursday.
Q&A
What caused the decline in new XRP addresses?
The decline in new XRP addresses is attributed to a shift from retail speculation to institutional use of the XRP Ledger.
How much has the monthly active supply of XRP decreased?
The monthly active supply of XRP has decreased by over 70%, dropping from 7.45 billion XRP to approximately 2 billion XRP per day.
What are the recent developments in tokenized assets on the XRP Ledger?
Recent developments include the first real-time cross-border settlement of tokenized Treasuries involving Ondo, Kinexys, Mastercard, and Ripple, with tokenized RWAs exceeding $2.43 billion.
