XRP new addresses sink to 18-month low
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The number of new addresses appearing on the XRP network has dropped from 18,000 a day in December to 2,700 a day on May 7, as per Glassnode data.
The figure hitting an 18-month low represents a decline of 85% during the period.
Monthly active XRP supply has also sunk from 7.45 billion tokens a day to nearly 2 billion tokens a day over the same period.
It reflects the declining health of the monthly active supply of XRP tokens.
Related: Top analyst predicts 100% upside for XRP in 2026
XRP price action
Ripple, JPMorgan, Mastercard, and Ondo Finance recently executed a near-real-time cross-border redemption of tokenized U.S. Treasuries on the XRP Ledger. The blockchain leg of the transaction was processed in under five seconds.
Though XRP surged to $1.45 on the news, it failed to consolidate its gains and fell to $1.39 at press time. The cryptocurrency has lost around 25% of its value this year.
As per Coinglass, $3.95 million worth of XRP positions have been liquidated over the last 24 hours, including $134,820 in short positions.
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Analyst expects breakout
As per CryptoQuant, XRP whale inflows to Binance have hit a four-year low. The figure currently stands at 736 million tokens.
It means whales are not selling their XRP holdings right now.
Binance spot markets have sold over $35 million worth of XRP in the last seven days, analyst Dom shared on X on May 6.
Though there is significant selling, traders are placing buy orders at the same time.
"Seeing this flip to buying is the key for a breath of air and will likely trigger a breakout," he predicted.
XRP was trading at $1.39 at the time of writing.
