Over 21,000 new wallets were created on the XRP Ledger (XRPL) this month, marking its strongest growth since early 2024. Despite this, XRP’s price remains under pressure after losing its $2.6 support level. The data suggests growing network activity, but market conviction appears shallow, with much of the capital flow showing short-term behavior rather than long-term commitment.
XRP Under Pressure as Market Turns Risk-Off
The broader crypto market has shifted to a defensive stance, with major assets breaking support zones. XRP has fallen 11.8% in the past week, holding up slightly better than Ethereum’s 14% decline, but still reflecting widespread weakness. Short-term volatility continues to drain liquidity, and Q4’s performance will depend on which assets can maintain conviction through market turbulence.
XRPL Wallet Growth Hits Nine-Month High
While XRP’s price dropped 12% over the week, on-chain data from Santiment shows notable traction on the XRPL. Roughly 21,595 new wallets were created since early November — the largest increase since February. This growth coincides with a 44% surge in XRPL’s stablecoin market cap, adding $94 million in liquidity and bringing the total to $307 million, a new all-time high.
📈 XRP’s price has bounced back, and users who bought the dip have enjoyed a nice +12% jump in the past 24 hours. Notably, XRP Ledger data indicates there were 21,595 new $XRP wallets created in a 48-hour span in the past couple days, the highest level of growth in 8 months. pic.twitter.com/vkGLwLJjrk
— Santiment (@santimentfeed) November 5, 2025
These metrics suggest the its network remains active despite market weakness. If the trend continues, it could support its’s stabilization and potentially aid a recovery once market sentiment improves.
XRP Short-Term Traders Dominate Activity
Despite the positive on-chain momentum, total value locked (TVL) on XRPL has declined 6% to $76 million, its lowest level since July. This drop points to weak long-term investor commitment, with most inflows appearing opportunistic rather than strategic.
Funding rates for it have turned positive, meaning longs are paying shorts — a sign that traders are positioning for a rebound. However, the concentration of bullish positions raises the risk of a long squeeze if sentiment turns bearish. Active wallet counts have also slipped to around 5,500, highlighting limited sustained engagement.
Outlook: What’s Next for XRP
While network growth offers encouraging signals, the market remains fragile. If XRP fails to regain strong buying support, the path to reclaiming $3 may prove difficult. For now, short-term traders appear to be driving momentum, while long-term conviction remains limited.
