EgyHash2025-04-18

XRP’s Market Paradox: With Ledger Activity Dipping 80%, Is a Rebound on the Horizon?

XRP ledger activity has experienced a notable decline since its December peak. The percentage of active addresses collapsed by 80%, reaching levels not seen in recent months. A similar downward trend is evident in the asset's futures market: XRP open interest has fallen by approximately 70% from its peak—levels not observed since November of last year—and funding rates have dropped, occasionally turning negative. Additionally, the XRP Estimated Leverage Ratio—calculated by dividing an exchange's open interest by its coin reserve, which reflects average user leverage—has similarly declined. Despite these concerning indicators, XRP's price has only decreased by around 35% from its December peak, a softer decline compared to many other assets in the market, such as Ethereum, which lost about 60% of its value in the same period. Furthermore, the XRP Ledger's Exchange Reserve—the total number of XRP coins held on major exchanges—has been falling, reaching levels last seen in July of the previous year. The resilience in price movement, combined with the continuous drop in exchange reserves, may signal a bullish sentiment for XRP despite the overall challenging conditions in the financial markets.