XRP price remains under pressure despite a significant increase in wallet creation across the XRP Ledger, raising questions about whether growing network activity can support a meaningful market recovery.
According to blockchain analytics firm Santiment, the network recorded 7,934 new wallets on November 1, marking its sixth-highest daily total of 2026.
However, XRP continues trading near $1.25, while demand indicators from US cryptocurrency exchanges and investment funds suggest investors remain cautious.
We believe this contrast highlights an important development: growing blockchain participation does not always translate into stronger cryptocurrency prices.
XRP Network Growth Reaches One of Its Highest Levels This Year
The XRP Ledger experienced an unexpected increase in activity as thousands of new wallets appeared over a single day.
According to Santiment’s blockchain analytics platform, November 1 recorded 7,934 newly created XRP wallets.
This represents one of the strongest daily readings of the year, particularly because the increase occurred during a period of declining cryptocurrency prices.
The surge followed the recent Binance security breach, which raised concerns about keeping digital assets on centralized exchanges.
Some analysts believe the incident may have encouraged cryptocurrency holders to move funds into personal wallets.
However, wallet creation does not necessarily represent thousands of new investors. Existing users can create additional addresses for security, transfers, or other purposes.
We previously examined declining XRP network activity and how weaker wallet growth can reflect changing participation.
The latest figures suggest that network engagement may be recovering, although sustained activity will be necessary to confirm a broader trend.
US Investors Show Signs of Weakening XRP Demand
Despite the increase in wallet creation, American cryptocurrency trading activity presents a different picture.
The XRP Coinbase Premium Index recently dropped to approximately -0.16%, its lowest reading in eight months.
This indicator measures the price difference between XRP trading on Coinbase and Binance.
When the premium becomes negative, XRP trades at a discount on Coinbase compared with the international exchange.
Analysts often interpret this as a sign of weaker relative buying pressure from US investors.
We believe the indicator deserves attention because American institutional participation has become increasingly important for major cryptocurrencies.
However, a negative premium does not automatically mean XRP will continue declining.
Exchange liquidity, arbitrage activity, and broader market conditions can also influence the reading.
XRP ETF Inflows Slow as Market Confidence Weakens
Another important development involves US spot XRP exchange-traded funds.
According to reported SoSoValue figures, XRP ETFs attracted approximately $18.83 million in net inflows during October.
That represents a substantial decline from September’s $121.40 million.
The slowdown suggests that institutional and retail investment through regulated funds has weakened, even though overall monthly flows remained positive.
Earlier this year, we reported on strong XRP ETF inflows despite weakness in Bitcoin and Ethereum funds.
The latest numbers indicate that demand has become more selective.
Still, XRP investment products recorded approximately $8.43 million in inflows on October 29, suggesting that some investors continued adding exposure during the market downturn.
We believe future ETF flows will help determine whether investment demand is stabilizing or continuing to weaken.
Can XRP Price Recover Above $1.30?
XRP currently faces an important technical challenge.
The cryptocurrency has struggled to establish sustained momentum near $1.25 after losing almost 16% during October.
Santiment has identified $1.30 as a potentially important recovery level.
A move above that price, accompanied by daily wallet growth exceeding approximately 4,000 addresses, could strengthen the case for improving market conditions.
Conversely, a decline below $1.20 alongside fewer than 3,000 new wallets per day would weaken that outlook.
These are analytical reference points rather than guaranteed trading outcomes.
We have previously discussed how XRP ETF demand can remain resilient during market pullbacks.
For now, we believe the relationship between wallet growth, exchange demand, and institutional investment will be particularly important.
What Comes Next for XRP?
XRP’s recent network expansion provides an encouraging sign for blockchain participation, but its price recovery remains uncertain.
We will be watching whether new wallet creation remains elevated, whether the Coinbase Premium improves, and whether November brings stronger ETF inflows.
Until those indicators begin moving in the same direction, the gap between XRP network activity and investor demand could continue shaping the cryptocurrency’s short-term outlook.
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