XRP has reached a significant milestone in adoption, with the XRP Ledger now supporting 8.24 million non-empty wallets. This increase comes during a challenging period for the cryptocurrency, which has seen a 17.21% decrease in price over the past month.
Network growth despite falling prices
On-chain analytics provider Santiment reported that the XRP Ledger added 4,772 non-empty wallets in a single day, marking the fifth-largest daily increase in wallet growth since March. This continues a broader trend of accumulating new addresses on the network, even as XRP’s price remains under pressure.
Santiment’s data reveals that the surge in wallet creation echoes a previous episode when approximately 4,300 new wallets were activated in one day, a period also marked by significant outbound transfers from large holders.
While the rise in addresses signals growing participation, industry analysts caution that the metric alone does not confirm large-scale accumulation. Cryptocurrency exchanges and individual investors can operate multiple wallets, and the increase may represent broader activity rather than individual adoption.
The network growth stands in contrast to XRP’s market performance, as the token continues to trade below September’s levels. Large XRP holders, often referred to as whales, have intensified transfers to centralized exchanges, which has fueled speculation about increased selling activity.
Whale activity and ETF flows
Recent analysis identified $112.4 million worth of XRP moved from whale-controlled wallets to Binance, representing the largest deposit movement of this kind in seven months. Coinpaper also noted that 1.67 billion XRP entered Binance over a rolling 30-day period, underlining heightened liquidity and possible selling pressure.
While these large deposits do not guarantee immediate sales, the influx increases the supply of XRP available for trading and may contribute to negative price momentum if demand remains subdued.
Institutional demand for XRP has also shown signs of slowing. US spot XRP ETFs recorded $4.25 million in net inflows during the most recent reporting week, following $1.84 million in net outflows the previous week. This moderate uptick trails the $75.6 million that flowed into XRP ETFs for the week ending September 25.
Falling XRP prices have left ETF investors facing substantial unrealized losses, and the pace of new investments has continued to lag behind previous periods when cumulative inflows neared $1.8 billion.
The weaker momentum in institutional flows highlights the sector’s caution amid broader volatility in the crypto market.
Outlook and the role of user participation
XRP’s potential for a price rebound may hinge on whether continued wallet growth translates into sustained demand. Santiment highlighted $1.40 as a critical level; if the token holds above this threshold and daily address creation remains around 4,000 or higher, the outlook for a move toward $1.50 would improve.
Conversely, a decline below $1.40, coupled with fewer than 3,000 new addresses per day, would signal weaker short-term adoption and could limit upward movement.
While network-driven signals point to renewed interest, XRP’s recent history shows that increased wallet activity has not always resulted in sustained price gains.
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