As the price fails to make an upside push, on-chain data paints a bearish picture. Notably, network activity has collapsed 85% in just two years.
The XRP rally from late 2024 is now showing signs of cooling down, at least from an on-chain perspective. New blockchain data suggests that activity across the XRP network has dipped 85% from that point. Amid all this, the price of XRP has failed to make an upside push and sank below the $1.40 level.
XRP Network Activity Takes an 85% Dip
Glassnode reported that new addresses on the XRP network decreased from about 18,000 in December of 2024 to 2,700 in May 2026. This is an 85% drop in just two years. New address creations indicate ecosystem growth as well as demand. When these stop or see a dip like this one, it shows weakening momentum and reduced demand for XRP.
Glassnode data also shows a big-time drop in XRP’s active supply metrics. Notably, the monthly active supply dropped from 7.45B XRP on a daily basis to 2B XRP in that same period. This drop shows that fewer XRP tokens are now moving across the network. In other words, there is less trading happening for XRP at the moment.
When this is combined with the drop in the growth rate of new addresses, we can see that the current XRP environment is not the same as it was in late 2024 when it surged to $2.61. The blockchain activity that helped push the XRP price to that level is now gone.
The Price of XRP Struggles Like Its Network Metrics
The network activity is happening side by side with the XRP price losing momentum. CoinMarketCap shows that the value of XRP is moving sideways and has fluctuated between $1.37 and $1.38 in the past seven days. At one point, it managed to make an upward push to $1.45 but it quickly got rejected from that level.
The current immediate resistance level for XRP is $1.40. If bulls manage to push the price of XRP above this level, it has a clear way to $1.45. This is the key technical resistance. XRP is looking at resistance at around the $1.80 mark in the long term. The immediate support level is at $1.36. If the price dips below that level, then it could go as low as $1.30.
Technical Indicators Are Leaning Bearish
The technical indicators are starting to show sell signals for XRP. Investing.com data shows that the 13-day bull/bear power indicator has a value of -0.009, which is in the sell zone. This shows sellers having control in the last 13 days and that the momentum could be changing to a downward trajectory.
The MACD (12,26) indicator is currently at -0.008 which is also in the sell zone. The 12-day EMA is lower than the 26-day EMA and shows that downward momentum is gaining more strength. Therefore, there is continuous selling pressure on XRP.
What This On-Chain Data Could Mean
The XRP network activity dip shows that demand for this crypto is way lower than it was during the late-2024 surge. The number of people that use XRP and the amount of activity on the network depends on this demand. In fact, demand grows the network activity, the number of wallets and the number of token transfers.
For XRP, traders will likely continue paying attention to both the price action and blockchain activity closely. If wallet growth and active supply metrics begin recovering alongside XRP price stabilization, it could signal demand soaring again.