XRP Wallet Growth Contrasts With Weak Price and US Demand
XRP traded near $1.25 on November 3 after falling about 16.5% over the previous month, while new wallet creation offered a sign of stronger network activity. Santiment reported 7,934 new XRP Ledger wallets on November 1, the sixth-highest daily total of 2026. However, wallet growth does not necessarily indicate new buyers, as existing users may create additional addresses.
US demand indicators remained weak. The Coinbase Premium Index fell to around -0.16%, an eight-month low. Spot XRP ETFs recorded $529,510 in net outflows on November 2, although October flows remained positive at $18.83 million, down from $121.40 million in September. Cumulative ETF inflows stood at about $1.81 billion. XRP’s daily trading volume was roughly $1.35 billion, with a market value of about $79.42 billion.
Traders are watching $1.20–$1.23 as support and $1.27–$1.30 as resistance. A four-hour close above $1.27 could support a recovery, while a break below $1.23 may increase selling pressure. Until wallet growth is accompanied by stronger US demand and renewed ETF inflows, rising XRP network activity alone may not be enough to reverse the weak price momentum.
Bearish
The overall signal for XRP is bearish because weak price momentum coincides with subdued US demand. XRP was down about 16.5% over the month, the Coinbase Premium Index reached an eight-month low, and spot ETF flows turned negative on November 2. These conditions may encourage short-term traders to remain cautious or sell into rallies. A break below the $1.23 level could intensify selling, with $1.20 as a key nearby support.
The increase of 7,934 new wallets is a constructive network signal, but it does not confirm fresh investment or buying pressure. October ETF inflows were still positive, and cumulative inflows remained substantial, which could help limit downside if demand improves. Over the longer term, sustained wallet growth alongside a recovery in the Coinbase premium and renewed ETF inflows could support XRP. Until those indicators strengthen and price clears resistance around $1.27–$1.30, however, the data point to elevated downside risk rather than a confirmed recovery.