TLDR
XRP new addresses have dropped sharply, hitting their lowest daily level in about a year and a half.
- Daily new XRP Ledger addresses have fallen about 85 percent since late 2024, from roughly 18,000 to around 2,700 per day.
- This slowdown coincides with weaker on-chain activity and thinner liquidity, which can weigh on XRPs price even as total addresses and ETF interest grow.
- The key signals now are whether new and active addresses recover, how ETF flows evolve, and how thin exchange liquidity interacts with any renewed demand.
Deep Dive
1. Magnitude Of The Slowdown
On-chain data cited by Finbold shows that new addresses on the XRP Ledger (XRPL) dropped from about 18,000 per day in December 2024 to roughly 2,700 per day on 7 May 2026, an 85 percent decline and an 18?month low.
Over the same period, monthly active XRP supply fell from about 7.5 billion tokens per day to around 2 billion, reinforcing the picture of slower transactional and speculative use on the network.
At the same time, the total number of XRPL addresses has continued to grind higher, hitting an all time high after adding more than 67,000 addresses in the 30 days to early May, which suggests slow net growth but far less fresh daily onboarding than during prior spikes.
Growth has not stopped, but the pace of new participants and active usage has cooled significantly compared with late 2024.
2. Impact On Fundamentals And Price Risk
New addresses and active wallets are rough proxies for user adoption and economic activity, so a sustained drop usually signals weaker demand for using or holding XRP.
Analysts note that daily active wallets fell about 38 percent year over year, from roughly 22,000 to around 13,700, while trading volumes and an external liquidity index show XRP markets becoming thinner, which can amplify volatility when bigger orders arrive.
At the same time, some structural signals are more mixed: spot XRP ETFs have seen renewed inflows, and Binance reserves of XRP have trended lower, which reduces immediate sell side supply but only helps if demand actually returns.
The on-chain slowdown currently leans bearish for fundamentals, but low exchange supply and ETF interest could quickly change the picture if usage and demand pick up.
3. Key Metrics To Watch Next
Three metrics matter most going forward:
- New addresses and daily active wallets, to see if network adoption stabilizes or continues to erode.
- Monthly active supply and 24 hour volume, which show whether XRP is actually being transacted rather than just held.
- ETF flows and major integration news, such as institutional payments or tokenization pilots on XRPL, which can bring new users and capital.
If these activity measures recover while exchange liquidity remains thin, any upside move could be sharp; if they keep sliding, it would support the thesis of a prolonged, grinding downtrend.
Treat the address slump as an early warning signal and track whether usage and capital flows improve before assuming a durable turnaround.
Conclusion
XRPs 18 month low in new addresses reflects a clear slowdown in fresh participation and on-chain activity, which increases medium term risk for the token.
At the same time, growing total addresses, ETF inflows, and lower exchange reserves show that the long term story is not broken yet.
The balance between these forces will likely be decided by whether real XRPL usage and new user growth can reaccelerate while liquidity remains thin.
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