XRP hits 21-month low while usage climbs

TLDR

XRP (XRP) has fallen to its lowest level in about 21 months near $1 while XRP Ledger usage and address activity have sharply increased.

1. XRP recently dipped just under $1, its lowest daily close since November 2024 and roughly 70 percent below its early?2025 peak.
2. On-chain usage is climbing, with active addresses up roughly 3580 percent and daily payments spiking, but new addresses and ETF flows remain flat.
3. The divergence means existing users and some large holders are more active, yet price will likely stay under pressure unless usage converts into real spot and institutional demand.

Deep Dive

1. Price At 21-Month Low

Several reports note XRP has closed around $1, briefly dropping to about $0.992, its lowest level since November 2024 and roughly 6970 percent below its January 2025 peak near $3.30, marking a clear 21?month low in price terms. Analysts highlight ongoing selling pressure, with metrics like the Taker Buy/Sell Ratio on Binance falling below 1, indicating derivatives traders are skewed toward aggressive selling rather than buying at these levels. Broader crypto risk-off conditions, including Bitcoin weakness and softer institutional flows into XRP products (zero ETF flows on many recent trading days), have added to the downward pressure on price despite its long-term narrative.

2. Network Activity Surging

At the same time, XRP Ledger usage is climbing. Data from on-chain analytics cited by multiple outlets shows daily active addresses averaging roughly 35,700 in August versus about 26,400 in July, with some sources measuring an 84 percent jump in active addresses from early August to mid-month. Ledger-level metrics are even more striking: daily successful payments have recently exceeded 2.6 million, and total transactions around particular days reached 1.39 million, indicating heavy throughput across payments, decentralized exchange offers, and account operations. However, new address creation has stayed almost flat (around 2,260 per day versus 2,270 the prior month), meaning this higher activity comes mainly from existing users rather than a growing user base.

3. Why The Divergence Matters

Analysts caution that strong ledger activity is not automatically bullish for XRP price, because much of the volume reflects offer creation on the built-in DEX and internal transfers that do not add net buying pressure. At the same time, wallet data suggests smart money cohorts holding at least 1 million XRP have quietly increased their holdings even as market cap fell, pointing to some longer-term confidence among large holders. For the usage-price gap to turn into a constructive signal, three things need to change: more genuine payment activity relative to offers, visible growth in new addresses, and renewed spot or ETF inflows that translate ledger usage into sustained demand for XRP itself.

Conclusion

XRPs current setup is a classic divergence: price has slid to a 21?month low near $1 while the XRP Ledger is processing more addresses and payments than in prior months. That combination hints at an engaged core user base and some accumulating large holders, but it also underscores that throughput alone does not drive price without conversion into net demand. Watching new addresses, the mix of payments versus DEX offers, and whether XRP can reclaim key levels around $1.05$1.10 will be crucial for seeing if usage eventually translates into a stronger market structure.