XRP is facing a mixed outlook as the number of new wallets on its blockchain network rises sharply, but US-based demand signals—including ETF inflows and exchange price premiums—have weakened. The digital asset recently traded near $1.25, reflecting a significant drop over the past month, according to market data aggregators.
Mixed metrics: wallet creation vs. demand signals
On November 1, analytics platform Santiment counted 7,934 new wallets added to the XRP Ledger, marking the sixth-highest daily total so far in 2026. This occurred on a day when network activity is typically subdued. However, market sentiment around XRP remained weaker than its major peers, with 0.61 bullish social media comments per bearish comment—less favorable than Bitcoin’s 0.69 and Ethereum’s 1.14 on the same measure.
Meanwhile, the Coinbase Premium Index for XRP dropped to nearly -0.16% as of November 2, reaching its lowest level in eight months. This premium tracks the price difference between US-based Coinbase and overseas exchanges such as Binance, providing a read on relative demand from American investors.
US spot XRP exchange-traded funds (ETFs) also saw a sharp decline in inflows, recording $18.83 million net in October compared with $121.40 million in September, according to specialist data firm SoSoValue. ETF flows are often monitored as a gauge of institutional and retail investor appetite for an asset.
Santiment listed $1.25 as an immediate technical pivot, outlining scenarios involving moves above $1.30 or below $1.20. The firm described these as conditional markers, not specific forecasts.
Santiment noted that recent wallet growth may be related to users opting for self-custody, possibly spurred by the security concerns after a major hack at Binance. At the same time, weaker US demand signals are tempering the recovery case for XRP.
Mini dictionary: Santiment is a blockchain analytics and data provider, specializing in on-chain and sentiment data for cryptocurrencies and digital assets.
Timeline: XRP and the broader crypto market
The latest debate about a possible relief rally for XRP follows a series of notable events across October and early November. On October 29, Binance, one of the world’s largest cryptocurrency exchanges, experienced a hack that platforms like BitOK estimated caused losses of $6.15 billion. Binance initially reported $6.3 billion in affected funds across multiple blockchains.
Around the same time, US spot XRP ETFs saw a net addition of $8.43 million on October 29, followed by a $496,000 outflow the next day. Meanwhile, Bitcoin ETFs recorded $643 million in outflows on October 30, highlighting the volatility in exchange-traded products.
| Asset/Fund | October Net Inflows | September Net Inflows |
|---|---|---|
| XRP ETFs | $18.83 million | $121.40 million |
| Bitcoin ETFs | N/A (outflows on Oct 30) | N/A |
By November 3 at 08:13 UTC, CoinGecko data placed XRP at $1.25, almost unchanged over 24 hours but down 16.36% in 30 days. These figures demonstrate that new wallet creation alone is not yet fueling a recovery in market value.
Sentiment and technical thresholds
Santiment’s technical commentary suggested that a constructive setup could develop if XRP rises above $1.30 and daily wallet creation remains above roughly 4,000. Conversely, the technical outlook would weaken if XRP drops below $1.20 and new wallet registrations fall under 3,000 per day.
The Crypto Fear & Greed Index measured the digital asset market’s mood at 26 (“fear”) as of November 3, implying general market caution. Sustained caution could act as a drag on any near-term relief rally.
Santiment described sentiment and wallet data as important indicators to monitor but warned that none provide certainty about future price trajectories or guarantee a rebound for XRP.
Market outlook: monitoring key indicators
Looking ahead, analysts point to several key factors: the rate of new wallet creation, changes in the Coinbase premium, and upcoming ETF flows for November. Technical markers at $1.20 and $1.30 remain pivotal, along with net investor sentiment for both XRP and the broader crypto market.
Other major cryptocurrencies, including Bitcoin and Ethereum, have also seen significant monthly declines. Over the last 30 days, Bitcoin fell 9.75% while Ethereum dropped 16.34%.
| Crypto | 30-day % Change |
|---|---|
| XRP | -16.36% |
| Bitcoin | -9.75% |
| Ethereum | -16.34% |
Although the recent increase in XRP wallet activity offers some encouragement for blockchain adoption, weak demand indicators from US markets and subdued social sentiment currently limit the prospects for a significant price rebound.
