XRP recorded one of its strongest days for new wallet creations this year, with 7,934 new wallets added on November 1, according to analytics firm Santiment. This figure ranks as the sixth‑highest daily total for 2026 and occurred on a Sunday, a day that typically sees lower network activity.
Growth in self‑custodied wallets
Santiment suggested that the recent Binance hack may have prompted more users to set up self‑custodied wallets on the XRP Ledger. The firm noted that the increase in wallet numbers coincides with the price holding near $1.25, indicating continued usage despite broader market pressure.
Sentiment turns bearish
Despite the influx of new users, social‑media sentiment toward XRP has weakened over the past two months. Santiment data shows the ratio of bullish to bearish comments falling to about 0.61, compared with 0.69 for Bitcoin and 1.14 for Ethereum. The firm warned that while sentiment below 1.0 could precede a mid‑term relief rally if prices stop making new lows, fear alone does not define a market bottom.
US demand softens on Coinbase and ETFs
In the United States, demand for XRP appears to be cooling. The XRP Coinbase Premium Index dropped to roughly –0.16%, an eight‑month low, indicating that XRP trades slightly lower on Coinbase than on Binance. Analyst Arab Chain cautioned that a single negative reading does not confirm further downside but noted that sustained negative readings have sometimes been linked to weaker buying demand on Coinbase.
Spot XRP exchange‑traded funds (ETFs) also showed reduced inflows, attracting $18.83 million in October—the smallest monthly net inflow since January. September had seen $121.40 million in inflows. Nevertheless, the funds remained relatively stable after the hack, adding $8.43 million on October 29 and losing only $496,000 on October 30.
Price outlook
XRP is trading around $1.25, down 0.65% in the last 24 hours and 4.43% over the past week. Santiment identified $1.25 as a short‑term pivot point: a rise above $1.30 accompanied by daily wallet growth exceeding roughly 4,000 could reinforce a bullish setup, while a drop below $1.20 with growth under 3,000 could weaken it.
Future movements may depend on whether US demand, as reflected in Coinbase activity and ETF flows, aligns with the continued growth in new wallet creations.
