7,934 New XRP Wallets in One Day: Network Activity Defies Sunday Slowdown
XRP community progress seems to have picked up tempo whilst its value hovers close to $1.25. Santiment discovered that 7,934 new wallets have been created on November 1st, which occurs to be the sixth-highest each day complete of 2026.
That’s notable, particularly since Sundays are often quieter for crypto community exercise.
Potential Turning Point
The surge follows a busy week for XRP and got here simply after the Binance hack, which can have pushed extra customers towards self-custody and contemporary wallets. Santiment said that sturdy community progress suggests utilization is bettering whereas value stays underneath stress. The speedy pivot is $1.25, and $1.30 is the primary stage that might verify stronger momentum.
If each day new-wallet progress stays above roughly 4,000 and XRP reclaims $1.30, the setup seems extra constructive. On the opposite hand, a drop under $1.20 and progress underneath 3,000 would weaken that sign.
CryptoPotato lately reported that XRP whale outflows on Binance additionally surged almost 3 times the September 2022 studying. These outflows may ease near-term promoting stress.
Contrarian Opportunity Emerges
XRP and different prime caps equivalent to Bitcoin and Ethereum have already been witnessing weakening sentiment for almost two months. The Binance hack additional accelerated the downfall. As costs have fallen and concern has spread throughout the market, bullish commentary has collapsed. XRP now has simply 0.61 bullish feedback for each bearish one, whereas Bitcoin stands at round 0.69.
Ethereum is holding up higher at round 1.14, however enthusiasm has nonetheless fallen sharply from September. These ratios give a clearer image of when retail merchants turn into unusually assured or fearful, and proper now, concern has clearly swept over the crypto neighborhood.
Santiment revealed that the darkest sentiment durations have usually created the strongest contrarian alternatives as soon as panic has had time to settle. The neighborhood continues to be reeling from crypto’s largest-ever hack, which makes the present state of affairs notably tough. Despite this, if BTC and XRP sentiment stays under 1.0 whereas costs cease making new lows, a mid-term reduction rally may finally take form.
“Extreme concern alone doesn’t mark the precise backside, however concern plus value stabilization has usually been a a lot stronger sign.”
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