XRP trading and network activity drop sharply, signaling weaker speculative demand in 2026.

XRP's derivatives trading volume on Binance remains near historically low levels last seen in October 2024, with perpetual trading volume around $372 million as of May 7, 2026, indicating subdued speculative interest. Glassnode data shows a steep 85% decline in daily new XRP addresses since December 2024, alongside a significant drop in monthly active supply, reflecting reduced network activity and weaker retail engagement. This combined decline in derivatives participation and on-chain activity suggests that the speculative momentum behind XRP's late-2024 rally has faded, leaving the market in a quieter, low-leverage phase. Investors appear cautious, awaiting stronger catalysts before increasing exposure to XRP.