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XRP Ledger Activity Plunges 45% in a Week
XRP's network activity has significantly declined, with a sharp drop in active addresses, which hindered the token's rise toward the $4 mark.
On July 21, the number of weekly active XRP addresses peaked at 44,143 but fell to 24,644 by July 27 — a decrease of 44.2%.
This decline followed a brief spike to 30.90 on July 20, which should be seen as a sign of short-term user activity (data from CryptoQuant).
At the same time, the price of XRP dropped from $3.55 to $3.16 — a loss of 10.99%.
XRP Active Address Chart. Source: CryptoQuant
As the asset's price dipped below $3.50, market sentiment cooled, and capital flowed back into Bitcoin, slowing altcoin price growth.
XRP’s recent slowdown was also driven by sustained whale activity. Investors were alarmed when Ripple co-founder Chris Larsen transferred about $140 million worth of XRP to exchange wallets.
In total, he moved 50 million XRP valued at around $161 million, most of which went to centralized exchanges. Additionally, 10 million XRP were distributed across two recently deactivated wallets, fueling speculation about strategic profit-taking.
CryptoQuant analyst J.A. Maartunn warned that Larsen still holds over 2.5 billion XRP worth nearly $9 billion, suggesting further sales could place additional downward pressure on the token.
See also: "ChatGPT predicted a sharp decline in the price of Bitcoin"
