The XRP Ledger has achieved a significant milestone with active addresses surpassing 7 million for the first time, even as the XRP token continues its decline below the crucial $3 psychological level. XRPScan, a leading XRP Ledger explorer, confirmed the network reached this all-time high in what it defines as accounts maintaining a minimum balance of 1 XRP.
What to Know:
- XRP Ledger active addresses surpassed 7 million for the first time, marking a new all-time high despite ongoing price weakness
- The XRP token has dropped below $3 and currently trades around $2.88, down over 4% in the past 24 hours
- Daily active network usage peaked at 581,080 addresses in June but has since declined to approximately 38,471 addresses
Network Metrics Show Mixed Signals For XRP Adoption
The milestone comes with important distinctions about network activity measurement. XRPL validator Vet suggested the term "activated accounts" would be more accurate than "active accounts," though XRPScan questioned whether this terminology might imply certain accounts are excluded from the count. The platform noted that approximately 7.7 million accounts have been activated throughout the network's history.
Current daily active address data from Santiment reveals 38,471 users actively engaging with the network on September 21. This figure represents users actually transacting rather than simply holding minimum balances. The daily active addresses have maintained similar levels recently but remain significantly below June peaks.
Network growth reached extraordinary heights on June 14 when daily active addresses surged to 581,080. However, adoption metrics have since retreated substantially from those summer highs.
Network Expansion Faces Headwinds Despite Record Milestone
The XRP Ledger's expansion has encountered obstacles in recent months, with new address creation declining from peak levels. Data shows network growth dropped significantly from July 18, when 11,058 new addresses joined the platform in a single day. Current new address creation trends below 5,000 daily additions.
Vet, the XRPL validator, characterized the 7 million address milestone as "just the beginning" and emphasized that "on-chain is the new online."
This perspective suggests confidence in continued network development despite current market conditions.
The contrast between record address counts and declining daily usage highlights the complex nature of blockchain adoption metrics. While overall participation reaches new heights, actual network utilization shows different patterns.
Price Analysis Points To Critical Support Levels
XRP faces technical challenges as it trades around $2.88, having broken below the psychologically important $3 threshold. Crypto analyst Egrag Crypto identified the 50 exponential moving average as a key level, projecting it could meet XRP's price near $2.77.
A break below this technical support could trigger additional selling pressure. Egrag Crypto highlighted $2.65 as "the most critical zone of the upcoming bull run" for XRP, suggesting this level holds particular significance for future price action.
The analyst maintained that while short-term price movements warrant close monitoring, longer-term trends remain "crystal clear." This assessment comes as XRP participates in broader cryptocurrency market weakness affecting most major tokens.
Active addresses represent accounts that maintain minimum required balances on blockchain networks, typically indicating sustained user engagement rather than speculative trading. The XRP Ledger requires a 1 XRP minimum balance to prevent spam transactions and maintain network efficiency.
Daily active addresses measure actual network usage through transaction activity, providing insight into real-world adoption beyond simple account creation. Network growth tracks new participant onboarding, offering perspective on ecosystem expansion trends. Exponential moving averages smooth price data over specific timeframes, helping identify support and resistance levels in technical analysis. The 50 EMA represents the average price over recent trading periods, weighted toward more recent data points.
Market Context Shapes XRP Performance
The broader cryptocurrency market faces downward pressure, contributing to XRP's recent decline. According to CoinMarketCap data, XRP's 4% daily loss aligns with sector-wide weakness affecting major digital assets.
Technical support levels become crucial during market downturns, as they often determine whether selling accelerates or stabilizes.
The $2.77 and $2.65 levels identified by analysts represent potential inflection points for XRP's near-term trajectory.
Despite price challenges, the record-high address count suggests underlying network health remains robust. This disconnect between network metrics and token price reflects the complex relationship between blockchain adoption and market valuation.
Final Thoughts
The XRP Ledger's achievement of 7 million active addresses demonstrates continued network growth despite prevailing market headwinds and XRP's struggle below $3. While daily usage metrics have declined from summer peaks, the milestone reflects sustained interest in the platform's capabilities. Analysts emphasize key technical support levels around $2.77 and $2.65 as critical for XRP's future price direction.