XRP has extended its recent rally, reaching a high near $2.62 before settling at $2.47 as of May 15. Although it recorded a 5.2% decline over the past 24 hours, the asset still shows a solid increase of 12.8% over the last week and 12.4% over the past two weeks.

Despite the strong price action, activity on the network reveals a different trend. The number of new wallets created daily remains relatively low compared to other major cryptocurrencies, pointing to slow growth in new users. This suggests that while existing investors continue accumulating XRP, overall adoption is progressing more slowly.

XRP Falls Behind in User Growth

XRP’s price performance remains solid, but its network expansion is falling behind. Data from Santiment shows that over the past month, XRP has seen an average of just 3,500 new wallets created each day. In comparison, Bitcoin leads by a wide margin with 309,000 daily wallet creations, followed by Ethereum with 112,000. Even Tether (USDT) has shown stronger growth, adding more than 22,900 new wallets daily, highlighting XRP’s slower pace of user adoption.

XRP Holders Grow Amid Slow New Wallets

The total number of XRP holders has steadily increased, reaching 6.46 million, which indicates that more investors are consistently adding to their XRP holdings over time. Although the creation of new wallets remains low, the growing number of holders reflects continued interest from both retail and institutional players.

This gap between a slow pace of new wallet creation and a rising total holder count suggests that the growth is driven more by long-term holding rather than a large surge of new users. It points to sustained engagement from existing holders rather than rapid expansion of the overall user base.

XRP Eyes $3 as Momentum Holds

XRP’s price is holding firmly above key moving averages, including the 50-day, 100-day, and 200-day EMAs, indicating solid support despite the recent dip from Wednesday’s high of $2.65.

The MACD indicator continues to show a buy signal, staying above the neutral line and supported by positive green bars. This suggests ongoing strong momentum for XRP, with investor interest remaining high and the potential for the uptrend to push prices closer to the $3 mark.

Stable Daily User Activity

Data tracking the day-to-day use of the XRP network reveals very little change in regular user activity. The 7-day average of active addresses, as shown in a Santiment chart, has remained mostly stable over time. This steady level suggests that consistent engagement with the XRP Ledger is not growing, pointing to a plateau in how often users interact with the network on a regular basis.

Trading Drives Short-Term Spikes

In contrast, there are noticeable spikes at times when looking at the number of active addresses over shorter periods, such as a 24-hour window. These sudden increases often occur during moments of market volatility, indicating that much of this activity comes from traders reacting to price swings. This pattern suggests that recent network use is largely driven by speculation rather than steady, ongoing adoption.

Final Thoughts

XRP’s price has been rising and could move closer to $3, but the network’s user growth tells a different story. The number of new wallets being created is low, showing that not many new people are joining. However, existing investors are still buying and holding XRP. 

Daily activity on the network stays mostly steady, with some short bursts during times of market changes, mostly from traders. This means that recent price gains come more from trading and long-term holders than from many new users. For XRP to keep growing strong, it will need more active users and wider adoption beyond its current group of investors.