XRP Ledger sees 85% drop in new addresses as institutional use grows

Daily new addresses on the XRP Ledger fell 85% from about 18,000 in December 2024 to roughly 5,000 (2,700 on May 7) and monthly active supply slumped 70% from 7.45 billion to around 2 billion XRP per day. The total number of addresses continues to rise, reaching an all‑time high, while the token’s price sits near $1.39, down more than 24% year‑to‑date with a market cap of about $86.3 billion.

Despite the retail‑speculation slowdown, institutional activity rose: Ripple, Ondo Finance, JPMorgan’s Kinexys, Mastercard and JPMorgan completed the first real‑time cross‑border settlement of tokenized U.S. Treasury assets on the public blockchain. Tokenized real‑world assets on the ledger now exceed $2.43 billion, with U.S. Treasuries alone over $403 million. “The network is shifting from retail speculation only to institutional rails,” said Marcin Kazmierczak, co‑founder of RedStone. The SEC and CFTC’s March classification of XRP as a digital commodity provided regulatory clarity that accelerated this shift.