 ▲ XRP / AI-generated image © |
XRP’s network activity has plunged by more than 25% in a week, signaling that on-chain participation is rapidly cooling.
According to cryptocurrency outlet Finbold on February 17 (local time), data shared by on-chain analyst Ali Martinez shows that the number of active XRP wallets fell from 55,080 on February 9 to 40,778 on February 15, a decrease of about 26%. After peaking at around 55,000 on February 9, active addresses dropped sharply on the 10th and remained between 41,000 and 43,000 from the 11th to the 15th, failing to recover to the previous high.
Active addresses are a key metric for gauging network participation and transaction demand. A sharp short-term decline suggests slowing on-chain activity and the exit of short-term investors. Weakening network participation can lead to reduced liquidity and transaction demand, potentially weighing on price momentum.
While price action has recently shown a partial rebound, it remains significantly below its peak. XRP rebounded about 38% from a low of approximately $1.11 earlier this month to around $1.20, but it still trails far behind its 2025 high of $3.65.
One factor dampening market sentiment is Standard Chartered’s downward revision of its price target. The bank cut its end-2026 XRP target by 65%, from $8 to $2.80. Geoffrey Kendrick, head of digital asset research, cited weak price performance, macroeconomic headwinds, reduced institutional inflows, and the possibility of further short-term declines.
However, there are some positive signals. Since late 2025, more than $1.37 billion has flowed into XRP ETFs, and Ripple unveiled an institution-focused roadmap in mid-February outlining plans for DeFi expansion, lending capabilities, and the establishment of a large-scale treasury fund. As of the time of reporting, XRP was trading at $1.46, down about 1% over the past 24 hours but up roughly 3% on a weekly basis. Technically, it remains below the 50-day simple moving average of $1.83 and the 200-day simple moving average of $2.34, indicating a continued medium- to long-term downtrend. The 14-day Relative Strength Index stands at 44.26, remaining in neutral territory but below the 50 level, suggesting weakened buying pressure.
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