XRP Whale Addresses Plummet 50% as Network Activity Sees Major Shifts 

• During the last three months the number of active XRP whale addresses decreased by 50% because it fell from its previous total of 202,250 to 101,160.
• The XRP network recorded more than 2 million transactions on February 25 as a result of increasing activity after it had previously slowed down.
• Ripple entered a partnership with South Korean crypto institution BDACS for improved XRP and RLUSD custody solutions indicating institutions will adopt the technology in their region.

The XRP network has suffered a complete 50% decrease in its active whale addresses since the beginning of three months ago. The XRP large holder examination by Glassnode obtained by crypto expert Ali Martinez shows that from December through today these whale numbers have dropped from 202,250 addresses to 101,160 addresses. During December 2 the network reached its maximum number of active addresses which totaled 200,000.

Substantial data points to reduced XRP transaction numbers and lower network engagement throughout the incident period. The decreasing demand for XRP as a payment method in remittances stands behind this market trend according to expert analysis. The network recorded its highest fall at the end of January leading to a decline in transaction volumes reaching one million transfers.

The XRP network achieved a dramatic growth on February 25 which was marked by 2,054,526 transactions during that day. A substantial movement of funds took place during this activity while XRP sought to recover from its major price reduction.

Ripple continues to strengthen its operations throughout South Korea through recent developments. The digital asset institutional custody provider BDACS works with Ripple Custody to offer its services in South Korea. Ripple President Monica Long declared this partnership as another significant development for XRP and RLUSD in the Asia-Pacific territory. Through this partnership companies can obtain a smooth platform for financial institution custody services while making Ripple’s RLUSD stablecoin easier to use.

During December Woori Bank formed a major partnership with BDACS which offers digital asset custody solutions to this South Korean bank. The move demonstrates South Korea’s readiness to accept institutional cryptocurrency adoption through Ripple Custody which will support this emerging market expansion.