Saad Ullah
XRP is holding firm near the $2 mark, but behind the scenes, a sharp decline in new wallet creations is raising questions about user activity and network growth.
XRP (Ripple) Network Activity Takes a Nosedive
So here's what's happening with XRP right now - the numbers aren't looking too hot. According to a post on X by @ByCoinvo, XRP's network activity is basically falling off a cliff, especially when it comes to new people actually creating wallets.
The data shows that new XRP addresses were absolutely crushing it back in late November, hitting over 30,000. But since then? It's been a steady slide down to below 2,500 by mid-June. That's a pretty brutal drop, and it's got people wondering if regular folks are just losing interest in XRP altogether.
What's weird though is that while all this network stuff is tanking, XRP's price has been surprisingly chill. It's been bouncing around between $1.50 and $2.80 during this whole period. So you've got this strange situation where the price is doing okay, but actual network usage is heading south fast.
XRP (Ripple) Price Stays Strong Despite the Drama
Here's the thing that's got everyone scratching their heads - XRP price has been pretty solid through all of this. After hitting those sweet highs of nearly $3.10 back in late December, it's mostly been hanging out in the $2.20 to $2.70 range. Not too shabby, right?
But here's where it gets interesting. While traders seem pretty confident about XRP (hence the stable price), all those new wallet numbers going down the drain suggests that regular people and newcomers might be checking out. That's not exactly the kind of trend you want to see if you're thinking long-term.
The big question now is what happens next. If these new address numbers keep tanking, it's probably gonna put some pressure on XRP's price eventually. Unless something big happens - like finally getting some legal clarity or some major adoption news - this whole user growth thing might keep sliding.
Bottom line: XRP's doing okay price-wise for now, but the network activity tells a different story. And in crypto, network activity usually matters more than price in the long run.
Saad Ullah
