XRP shows positive price momentum, but daily averages of new wallets created reveal slow user growth compared to its peers.
Over the past week, XRP has experienced renewed bullish momentum, briefly peaking near $2.62 before a retracement to $2.47 as of May 15. Despite a 5.2% drop in the last 24 hours, the asset remains up 12.8% over the past 7 days and 12.4% in the last two weeks.
However, beyond the recent price swings, network-level data reveals a more complex picture of user growth, pointing to subdued adoption metrics alongside ongoing accumulation.
New metrics from Santiment highlight these trends, providing a clearer view of XRP’s current network dynamics in relation to major digital assets.
Daily Wallet Creation Trails Behind Peers
While XRP continues to show strength in market value, its network growth remains comparatively limited. According to data from Santiment, XRP has averaged approximately 3,500 new wallet creations per day over the past month.
This number lags well behind Bitcoin’s 309,000 and Ethereum’s 112,000 daily new wallets. Notably, even Tether (USDT) has outpaced XRP with over 22,900 new wallets each day.
Holder Count Increases Steadily
However, separate metrics tracking holder activity present a different trend. Another Santiment chart shows the total number of XRP holders has now reached 6.46 million. This steady increase signals that more participants continue to accumulate XRP over time.
While the wallet creation rate stays low, the upward trend in total holders suggests ongoing interest from both retail and institutional participants.
The divergence between low new wallet creation and rising total holders may indicate long-term accumulation rather than an influx of new individual users. This gradual growth points to sustained interest in XRP from existing users rather than rapid expansion of the user base.
Active Usage Shows Stagnation
Meanwhile, metrics tracking actual usage show minimal change in regular activity on the XRP network. The 7-day average of active addresses, visualized in the Santiment chart, has remained largely flat. This lack of growth in active addresses highlights a stagnation in consistent user interaction with the XRP Ledger.
In contrast, the 24-hour active address count displays intermittent spikes. These short bursts often align with market volatility, suggesting that most recent activity stems from speculative trading.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
