Network growth continues despite price struggles
It’s interesting to see how XRP’s network metrics are moving in a different direction than its price. The XRP Ledger now has over 8.1 million wallets, according to recent data. That’s a pretty significant number when you think about it. But here’s the thing – the price is still down about 63% from its July 2025 peak of $3.65.
Currently trading around $1.33, XRP has managed a small 2.92% gain in the last day. But that doesn’t really change the bigger picture. The price has been cooling off for a while now. Yet, people keep creating new wallets and using the network.
Different data sources, similar story
Different analytics firms report slightly different numbers, which I think is worth mentioning. Santiment says there are about 7.7 million non-empty wallets. CryptoQuant puts the figure closer to 8.1 million. This difference probably comes from how they count wallets – some track only active ones, while others include all accounts ever created.
Back in March, the network hit 7.7 million non-empty wallets for the first time. That was a milestone for a network that’s been around for over 13 years. During that period, active addresses reached a five-week high of nearly 47,000. The price actually saw a short-term breakout then, climbing 14% in just two days to briefly touch $1.60.
Retail investors dominate the landscape
Looking at wallet distribution tells another part of the story. Most XRP holders have relatively small balances. This suggests a strong retail presence, which is interesting. You’d think with all the institutional talk around XRP, there would be more large holders. But apparently, regular people are still the main participants.
A small number of large wallets do control significant portions of the supply, though. That’s pretty typical in crypto, I suppose. But the continued growth in wallet numbers despite the price decline might indicate something about long-term confidence. People are still joining the network, experimenting with it, and building on the XRP Ledger.
Community reactions and market realities
The community reaction to this divergence has been mixed. One user on social media pointed out that crypto assets don’t really trade on fundamentals. They argued that XRP has one of the largest and fastest-growing communities, yet it still trades like many other cryptocurrencies.
That user asked an interesting question: if increased adoption isn’t pushing the price up, what actually controls it? The response from another community figure was pretty straightforward – market conviction drives the price. Simple as that.
I think there’s something to be said about network fundamentals strengthening even when prices aren’t cooperating. Short-term price performance might be subdued, but the steady expansion in wallets and active addresses suggests something is happening beneath the surface. Whether that translates to price appreciation eventually is another question entirely.
Maybe the network is building a foundation that could support future growth. Or perhaps this is just how crypto networks evolve – in fits and starts, with metrics sometimes moving independently of price. It’s hard to say for sure, but the data is certainly telling an interesting story about XRP’s current state.
