XRP New Addresses Tumble 85% as Price Slump Points to Lack of Fresh Buyers

XRP’s weak price performance appears to reflect a lack of new investors, according to blockchain analytics firm Glassnode.

Glassnode wrote on X on May 7 that the number of newly created addresses on the XRP network had dropped to about 2,700 a day from an average of 18,000 a day in December. That amounts to an 85% decline in just five months.

Monthly Active Supply, which indicates how actively funds are moving across the network, showed a similar pattern. Over the same period, the average active supply fell to about 2 billion XRP from 7.45 billion XRP per day.

As of 11:15 p.m., XRP was trading at $1.40, down 1.25% from a day earlier.