XRP Fails to Recover, Recording Lowest Daily Closing Price Since November 2024! Here's Why

$XRP, one of the leading altcoins in the cryptocurrency market, continues to draw attention with its sharp price decline. According to the latest assessment published by the blockchain data analytics platform Santiment, $XRP's closing price reached $1, marking its lowest daily close since November 2024.

According to the data, $XRP has lost nearly 69% of its value from its peak of around $3.30 reached in January 2025. However, Santiment noted that, despite the price drop, there is no observable influx of new users into the market, distinguishing the current cycle from previous periods.

According to the analytics company's data, the average daily number of active addresses on the network in August reached 35,700. This is 33% higher compared to approximately 26,400 in July. However, no significant growth was observed in the number of newly created addresses per day. The average daily number of new addresses in August was approximately 2,260, remaining very close to July levels.

Santiment stated that the data shows network activity is driven by increased engagement from existing users, rather than an influx of new investors. In other words, although trading activity within the $XRP ecosystem is growing, the user base is not expanding.

Market experts note that the stagnation in the number of new users is a key indicator that could hinder price recovery. They point out that historically, the influx of new investors into networks accelerates during periods of strong market growth.

On the other hand, according to CoinMarketCap data, at the time of publication, $XRP was trading at $1.01. Over the past seven days, the cryptocurrency has lost approximately 4.1% of its value. Analysts emphasize that to determine the short-term trajectory of $XRP, close attention should be paid to both network growth data and the overall market conditions.

*This is not investment advice.