The XRP blockchain has experienced a significant decline in network activity, with key metrics showing an 85% drop from their 2024 peak. According to on-chain analytics firm Glassnode, the number of new addresses on the XRP network has decreased sharply, with only 2,700 new addresses being created daily, down from 18,000 in December 2024. This decline reflects a waning speculative wave that previously drove adoption during a bull rally. Additionally, the monthly active supply of XRP has also seen a substantial reduction. The 7-day average of this metric, which tracks the amount of XRP involved in transactions over the past month, has fallen from 7.45 billion tokens during the late 2024 surge to just 2 billion tokens currently. This level is even lower than the lows observed during the 2022 bear market. The recent bearish market conditions since Q4 2025 have contributed to this downturn in network activity.