tl;dr
Recent on-chain data from Glassnode indicates a significant surge in XRP's retail investor preference over Bitcoin, with a 490% increase in XRP's quarterly average of daily active addresses compared to Bitcoin's 10% rise since the 2022 cycle low. The contrast suggests that speculative retail demand ...
Recent on-chain data from Glassnode indicates a significant surge in XRP's retail investor preference over Bitcoin, with a 490% increase in XRP's quarterly average of daily active addresses compared to Bitcoin's 10% rise since the 2022 cycle low. The contrast suggests that speculative retail demand is driving XRP's growth, while Bitcoin's rally remains institutionally led.
However, caution is advised as XRP's surge appears to be fueled more by recent investments than sustained demand, with newer investors holding a significant share of its realized cap. The sustainability of XRP's rally is uncertain, with signs of slowing retail speculation and decreasing investor profits.
The geographic disparity in XRP's interest also indicates a potential influence of specific market dynamics in Western regions. The report advises caution until more definitive signs of recovery appear.
Retail investors are showing a growing preference for XRP (XRP) over Bitcoin (BTC), according to recent on-chain data from Glassnode. The data highlights a dramatic 490% surge in XRP’s quarterly average of daily active addresses. In comparison, Bitcoin only saw a modest 10% increase since the 2022 cycle low.
This sharp contrast suggests that speculative retail demand is fueling XRP’s resurgence. Meanwhile, Bitcoin’s rally remains predominantly institutional-led.
In their latest newsletter, Glassnode highlighted the differing paths of these two major cryptocurrencies. Despite both assets achieving similar price gains —roughly 5x to 6x from their 2022 cycle lows—their trajectories reveal distinct investor behaviors.
According to Glassnode, Bitcoin’s growth has been steady. Meanwhile, the launch of spot ETFs or the US elections triggered a period of significant upward movement. In fact, Bitcoin hit an all-time high (ATH) just before President Trump’s inauguration.
Contrarily, Glassnode noted that XRP’s rally has been characterized by a sudden breakout from December 2024, driven by retail speculation.
Nevertheless, the surge also raises some cautionary signals, as it appears to be driven more by recent investments than by long-term, sustained demand.
Moreover, the share of XRP’s realized cap held by addresses younger than six months rose from 23% to 62.8% in a short period. Further insights from Google Trends data revealed that interest in XRP is predominantly concentrated in Europe and the United States, with significantly less search activity in Asia and Africa.
While XRP’s retail appeal is evident, the sustainability of its rally remains uncertain. Glassnode’s report indicates that the capital inflow has slowed since late February 2025, hinting at a cooling of retail speculation.
Therefore, Glassnode cautioned that the XRP demand may have already peaked. The firm recommended exercising caution until more definitive signs of recovery appear.