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The XRP Ledger (XRPL) has recorded a sharp contraction in network activity, with the number of active addresses dropping significantly in recent days.
On-chain data from CryptoQuant shows that active XRPL addresses declined by 10,902 between March 19 and March 22. After peaking at a local high of 26,358 on March 19, activity fell steadily to 15,456, marking a 41.36% decrease.
XRPL active addresses. Source: CryptoQuantDespite this drop in user activity, the broader network continues to expand. The total number of XRPL addresses has surged throughout March, surpassing 8.1 million, highlighting ongoing adoption even as short-term engagement weakens.
XRPL addresses. Source: CryptoQuantThis divergence, rising total addresses alongside falling active users suggests that market participants may be taking a wait-and-see approach, opting to remain on the sidelines despite growing network reach.
XRP price falls on lower active addresses
Notably, the decline in active addresses did not immediately translate into price weakness, with XRP remaining relatively stable between March 19 and March 22. A sharper move materialized on March 23, when the asset fell to a local low of $1.36 before rebounding to trade near $1.46 at the time of writing.
XRP price performance since March 17. Source: FinboldWhat’s next for XRPL?
Recent data indicates that over 50% of XRPL transactions are payments, highlighting its core use case as a payments network. Meanwhile, Ripple’s continued focus on expanding cross-border payment solutions may play a role in shaping future activity on the ledger.
For now, however, the sharp drop in active addresses suggests a short-term slowdown in user activity, even as the network’s broader adoption trend remains intact.
The post XRP active addresses crash over 40% in four days appeared first on Finbold.
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