The XRP Ledger added 7,934 new wallets on November 1, marking the sixth-highest daily total of 2026, according to Santiment. This surge in network activity occurred while XRP traded at $1.25, down 16% over the past month, and US demand metrics showed signs of cooling.
Wallet Growth Amidst Sentiment Decline
The increase in new wallets came on a Sunday, a day typically characterized by lower network activity. Santiment suggested that the recent hack on Binance may have encouraged users to establish self-custodied wallets. The firm noted that strong growth near the $1.25 price level points to improving usage despite ongoing price pressure.
Despite the increase in new users, social media sentiment toward XRP has weakened for nearly two months. The Binance hack accelerated this decline in sentiment. XRP currently has a bullish to bearish comment ratio of 0.61, meaning bearish comments outnumber bullish ones. For comparison, Bitcoin has a ratio of 0.69, while Ethereum holds a ratio of 1.14.
Santiment stated that if Bitcoin and XRP sentiment remains below 1.0 while prices stop making new lows, a mid-term relief rally is likely. However, the firm cautioned that fear alone does not mark the exact market bottom.
US Demand Metrics Show Softening
The XRP Coinbase Premium Index fell to -0.16%, an eight-month low, according to analyst Arab Chain. A negative reading indicates that XRP trades lower on Coinbase than on Binance. Coinbase is a key venue for US retail and institutional traders. Arab Chain noted that while sustained negative readings have historically been associated with weaker buying demand, the drop alone does not confirm further downside. A return to positive territory may indicate a relative improvement in demand.
Spot XRP ETFs also showed a slowdown in activity. The funds recorded $18.83 million in net inflows in October, the smallest monthly inflow since January. This was a significant decrease from the $121.40 million in net inflows recorded in September. Following the Binance hack, the funds added $8.43 million on October 29 and lost $496,000 on October 30. In contrast, US spot Bitcoin ETFs shed $643 million on October 30.
Price Pivot and Network Thresholds
XRP is trading at $1.25, down 0.65% over the past 24 hours and 4.43% over the past 7 days. Santiment identifies $1.25 as the immediate pivot point for the asset. Reclaiming the $1.30 level with daily new wallet growth above 4,000 would strengthen the bullish setup. Conversely, a drop below $1.20 with daily network growth under 3,000 would weaken the bullish signal.
November ETF flows and the Coinbase premium will determine whether US demand catches up with the recent increase in new users. The divergence between strong on-chain growth and softening US trading demand leaves XRP in a narrow price band, with the next move dependent on these specific technical and flow thresholds.
Frequently Asked Questions
How many new XRP wallets were added on November 1?
The XRP Ledger added 7,934 new wallets on November 1, which was the sixth-highest daily total of 2026.
What were the net inflows for spot XRP ETFs in October?
Spot XRP ETFs recorded $18.83 million in net inflows in October, the smallest monthly inflow since January.
