XRP Wallet Activity Sees Steep Drop Despite Surge in Transactions and Futures Volume

XRP has recorded a sharp 10.77% decline in wallet activity over the past week, according to a recent report by CoinMetrics. This marks the steepest drop among major altcoins, second only to Ethereum. The broader crypto market has also felt the heat, with Bitcoin’s wallet activity dipping 1.16% and Cardano (ADA) showing a modest 0.41% increase. In contrast, Chainlink (LINK) stood out with a 5.45% rise in activity.

Despite the drop in wallet activity, XRP's transaction count surged by 25.5%, highlighting increased network usage. Meanwhile, Bitcoin experienced a 7% decline in transactions, underscoring shifting momentum across the crypto market.

Adding to XRP's mixed signals, futures volume soared by 130%—suggesting heightened trader interest and volatility. However, this was tempered by a 1.42% decline in open interest, possibly reflecting short-term speculative activity rather than sustained confidence.

The market correction, driven by global economic uncertainty, has taken a toll on major digital assets. XRP, the Ripple-associated token, saw its market cap shrink by over 13% in the same period, underperforming many top cryptocurrencies.

The divergence between XRP’s declining wallet activity and rising transaction and futures metrics paints a complex picture. While the increase in transactions and futures volume indicates rising engagement from traders, the drop in wallet activity and market cap may signal caution among retail holders.

With XRP flipping Bitcoin in certain adoption metrics, investors and analysts are closely watching whether this trend will continue or prove to be a short-term anomaly amid broader market volatility.