Ripple (XRP) price plummeted 41%, so why did the number of addresses increase by 490,000?

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XRP (Ripple) price plummeted by over 41% in the first half of this year, but the total number of addresses on the XRP Ledger (XRPL) increased by approximately 490,000, reaching an all-time high. In contrast, active addresses, which indicate actual network utilization, decreased, showing a mixed trend between growth and usage.

According to crypto media outlet Finbold on July 8 (local time), based on Finbold's 'H1 2026 Cryptocurrency Market Report', the total number of addresses on the XRP Ledger increased by 489,739 from 7,913,554 on January 1, 2026, to 8,403,293 on June 30. This represents a 6.19% increase during the first half of the year. However, during the same period, daily active unique addresses decreased by 4,625, from 19,927 to 15,302.

The outlet analyzed that despite the increase in the total number of XRP Ledger addresses, actual network utilization slowed down. Active unique addresses decreased by approximately 23.2% in the first half of the year, which was interpreted as an indicator of shrinking network activity coinciding with the bearish price trend. Conversely, the total number of addresses consistently increased, surpassing 8,426,000 as of July 8, reaching an all-time high.

The expansion of the XRP Ledger-based tokenization ecosystem was cited as the reason for the increase in addresses. In particular, as XRPL-based tokens, including Ripple USD (RLUSD), increased, network participation expanded. According to RWA.xyz data, the number of stablecoin holders on the XRP Ledger was approximately 59,750.

However, the price continued its sluggish trend. XRP has fallen by over 41% since the beginning of the year, trading at approximately $1.08 at the time of writing. The outlet explained that while active addresses decreased due to the ongoing bear market, the increased adoption of XRPL-based tokens drove the overall increase in addresses.

Ultimately, the XRP Ledger showed contrasting trends: growth in the number of addresses and the token ecosystem, but a slowdown in actual network utilization. The outlet analyzed that the bearish price trend affected the decrease in active addresses, while the expansion of the XRPL token ecosystem was a key factor driving the increase in new addresses.

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