Decline in Active Whale Addresses on the XRP Network

Crypto analyst Ali Martinez has published a Glassnode chart detailing a significant decline in active whale addresses on the XRP network over the past three months.

The decrease is a staggering 50%, with the number of active whale addresses dropping from 202,250 in December to 101,160 currently. The peak of active wallets occurred on December 2, when the count reached 200,000.

> $XRP network activity has declined by 50%, dropping from 202,250 active addresses in December to just 101,169 today!
> — Ali (@ali_charts) February 27, 2025

This decline aligns with recent reports of a broader drop in XRP transaction volume and overall utilization of the XRP network. This downturn could stem from a cooling demand for the XRP network for remittances and payments. At the end of January, the network saw a drastic decline in transaction volume, falling by 1 million transfers.

However, on February 25, the XRP network experienced a remarkable surge in transaction activity, recording 2,054,526 transactions in a single day. A large volume of funds was moved, as the Ripple-affiliated cryptocurrency strives to stabilize following a period of decline.

Ripple Expands into South Korea

In a recent X post, Ripple president Monica Long discussed the newly announced partnership between Ripple Custody and South Korean company BDACS, a prominent institutional custody provider for digital assets in the country.

Long mentioned that Ripple has planted “another flag in APAC for XRP and RLUSD” through this partnership. The press release from Ripple indicates that they will offer seamless custody services for XRP and RLUSD to financial institutions. Additionally, this collaboration will facilitate significant expansion of the XRPL network and enhance the usability of Ripple’s stablecoin, RLUSD.

The Ripple president tweeted that South Korea is preparing for a new wave of institutional cryptocurrency adoption, with Ripple Custody playing a pivotal role. This partnership allows Ripple to further establish its presence in the Asia-Pacific (APAC) region.

Last December, Ripple’s partner BDACS also formed a crucial partnership with Woori Bank, one of South Korea’s largest banks, to provide its digital asset custody services.