XRP Sees Lowest Closing Since November 2024: Network Activity Picks Up, New Addresses Stagnate

While the XRP price recorded its lowest daily close since November 2024, network activity increased, but the number of new addresses remained stagnant.

According to Santiment Intelligence data, XRP made its daily close at approximately $1.00 on August 12. This level stood out as the lowest daily close recorded since November 2024.

The XRP price is currently 69% below the peak of approximately $3.30 reached in January 2025. In contrast, on-chain data shows that existing addresses on the network are transacting more frequently. In August, the number of daily active addresses rose to an average of 35,700, compared to 26,400 recorded in July.

Existing users are more active on the XRP network

Data covering the period from May 15 to August 12 reveals that the number of active addresses on the network accelerated significantly in August. Santiment noted that the increase in August was around 33% and that August 11 was recorded as the busiest day since June 5.

However, no similar activity was observed in new addresses. In August, the number of daily new addresses was approximately 2,260, while this figure was measured at 2,270 in July. Thus, the rise in activity stemmed from existing addresses transacting more frequently, rather than from addresses newly joining the network.

According to Santiment’s assessment, the phrase “increased user activity” on the XRP network can only be considered partially correct. While transactions on the network increased, there was no growth in the address base, and no data emerged pointing to a new wave of users.