Crypto pundit Crypto Eri has revealed a new milestone in terms of the number of XRP Ledger (XRPL) wallets despite the XRP price weakness. This comes as the altcoin risks dropping below the psychological $1.30 level amid uncertainty over a ceasefire in the U.S.-Iran war.
XRP Ledger Wallets Rise Despite XRP Price Weakness
In an X post, Crypto Eri noted that despite a softening of the XRP price that began in 2025, wallets continue to climb, with the XRP Ledger wallets currently at 8.1 million, according to CryptoQuant data. This signals increased adoption of the network, especially as more institutions tokenize real-world assets (RWAs).
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CryptoQuant data also show that the number of daily active addresses on the XRP Ledger has held steady despite the drop in the XRP price. The number of daily active addresses recently spiked to a high of almost 32,000, almost matching the high recorded on February 10, when this metric rose to 32,600.
It is worth noting that these milestones come just as more than half of the XRP supply sits underwater. Glassnode stated that investors who accumulated above $2 over the past 12 months have been realizing losses at a rate of $20 million to $100 million per day since November 2025.
On-chain analytics platform Santiment noted that average wallets active on the XRP Ledger over the past year are down 41% on average, with the XRP price recently reaching a new low. The platform stated that this is the lowest Mean Value to Realized Value (MVRV) for XRP traders since the FTX crash in November 2022.
Santiment explained that significantly negative returns imply much lower risk than average when buying or adding to one’s positions. This is because competing traders are already in severe ‘blood in the streets’ territory, so the downside for the XRP price may be limited.
XRP Structure Still Points Lower
Crypto analyst CasiTrades warned that the XRP structure still points lower, suggesting the XRP price could drop further. She noted that price failed to make a new high and instead printed a clean 5-wave right into resistance. The analyst added that a bearish divergence has formed, indicating exhaustion at resistance.
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CasiTrades also mentioned that the XRP price is right between support and resistance and that multiple degrees are aligning to the downside. As to how low the XRP price could drop, she stated that the first wave down is targeting is $1.13. When that happens, she predicts that the altcoin could see a small relief before a continuation toward $1.08, which is the macro .786 support. The analyst added that XRP could see a break lower to $0.87 after more chop and a relief bounce.
At the time of writing, the XRP price is trading at around $1.30, down over 2% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Freepik, chart from Tradingview.com
