thecryptobasic.com 
The $XRP Ledger has entered a period of noticeably weaker on-chain activity, as key network metrics fall to some of their lowest levels this year.
Data from Santiment shows that daily active addresses recently dropped to 25,350, marking the second-lowest level recorded this year. Meanwhile, new wallet creation fell to 2,130, its lowest point since November 2024.
Notably, these figures show that activity on the network has slowed sharply, even though $XRP continues to show resilience above the crucial $1 psychological mark.
This decline did not happen all at once, as active addresses gradually trended lower over several weeks after reaching stronger levels earlier in June. Each drop settled below the previous one until the latest reading, showing that participation on the network kept fading.
The trend has also continued beyond the lows highlighted by Santiment. Specifically, daily active addresses have since fallen further to 22,888.
Mid-June Recovery Lost Momentum
While network activity saw a decline in early June, this trend briefly paused on June 15, when increased dip buying lifted $XRP’s price and the number of active addresses. For a short time, the move suggested that interest in the network had returned and that activity could begin to recover.
$XRP Network Activity | Santiment
However, the momentum was short-lived. $XRP soon corrected back to its familiar $1.05 to $1.15 trading range, while active addresses resumed their decline. The network never regained the activity levels seen before or during the brief rally.
Market data suggests that the rebound emerged as a result of short-term buying from existing holders rather than fresh demand entering the market. Notably, the network did not attract a noticeable wave of new users during that period.
Data on $XRP wallet creation supports this idea, as new address growth rose but failed to match the rally and uptick in wallet activity. Essentially, the increase in activity came mainly from users who were already on the network, not newcomers joining the $XRP Ledger.
Stable Price Hides Falling Network Activity
Now, the $XRP ecosystem is witnessing a widening gap between $XRP’s price and XRPL on-chain activity. Specifically, while network participation has continued to weaken, $XRP has held relatively steady around $1.0962.
The token has avoided a major price breakdown below $1 even as active addresses and wallet creation have fallen to multi-month and year-to-date lows.
This gap suggests that existing liquidity and large holders have persistently supported the price despite fewer users actively engaging with the network. In a stronger market, price stability at these levels would usually come with growing network activity.
$XRP Still Needs a Strong Catalyst
Santiment believes several developments could help reverse the current trend and support a move toward $1.50.
These include wider adoption of RLUSD, more tokenized assets on the $XRP Ledger, increased institutional payment activity, continued expansion of the EVM sidechain, and the launch of lending tools.
If these developments gain real traction, they could bring more users to the network and provide stronger support for higher prices. However, for now, the data shows little sign that those catalysts have started driving network activity.
