The number of active addresses on the XRP Ledger has decreased by 80% since December

The number of unique active addresses on #XRPledger (XRPL) has sharply decreased by 80% since December last year, according to data from CryptoQuant. Specifically, the number of addresses conducting transactions on-chain has dropped from 103,000 on December 3 to less than 21,000 this past Sunday.

Signs of declining user interaction

Unique active addresses are an important metric to monitor user engagement with the XRP blockchain supported by Ripple. Significant changes in blockchain usage can indicate a shift in market sentiment, and active addresses – that is, wallets that actually send or receive transactions on-chain – are a key indicator of the health and acceptance of the blockchain network.

Unlike the total number of addresses (which aggregates all wallets that have ever been created), active addresses only count those wallets that have actually sent or received a transaction on the XRP Ledger within a 24-hour period. This significant decline indicates a concerning drop in activity and user interaction on the XRP network.