XRP just closed at its lowest since November 2024, and the on-chain read is more interesting than the price. 📉 Price closed at ~$1.00 on Aug 12, the lowest daily close since Nov 2024 and roughly 69% below the January 2025 peak near $3.30. 📊 Activity picked up anyway. Active addresses averaged ~35,700 a day in August against ~26,400 through July, up roughly a third, with Aug 11 the busiest day since Jun 5. 🆕 But new addresses are flat: ~2,260 a day in August versus ~2,270 in July. No new-user wave at all. 🧭 So the “rising user activity” framing is half right. The existing base is transacting more, and the wallet count is not growing with it. Activity is up. The user base is not. (researched with Santiment MCP + Claude)