Ripple-promoted XRP may be struggling to shake off bearish price pressure, but its network activity is telling a very different story. Nearly 8,000 new wallets were created in a single day, marking one of the XRP Ledger’s strongest growth spikes of 2026. While the surge appears to signal renewed interest in the XRP ecosystem, there may be more to the numbers than meets the eye — and the underlying reason could change how investors interpret this apparent adoption boom.
XRP Wallets Multiply as Binance Hack Fuels a Self-Custody Rush
The XRP Ledger witnessed a notable surge in new wallet creation, with activity reaching one of its highest daily levels in recent months. Data from Santiment shows that 7,934 wallets were created on Sunday, November 1, making it the network’s sixth-strongest day for wallet growth in 2026. The spike is particularly striking because it occurred over the weekend, when blockchain activity typically tends to slow.
XRP Adoption Accelerates While Price Hovers Near $1.25
XRP network growth is accelerating fast. November 1st saw 7,934 new wallets created, the 6th highest daily total of 2026, despite Sunday usually being one of crypto’s quieter days for network activity.
The surge… pic.twitter.com/CIeC7iWOW8
— Santiment Intelligence (@SantimentData) November 2, 2026
Santiment suggested that the surge may be partly linked to the recent Binance security incident , noting that the hack could have encouraged more users to move their assets away from exchanges and into self-custody by creating new wallets.
The October 29 attack reportedly stole $6.3 billion in assets, including 233 million XRP worth about $296 million. The FBI attributed the breach to North Korean hackers operating under the name TraderTraitor. However, Kim Yo Jong, the sister of leader Kim Jong Un, has rejected the accusation, describing Washington’s findings as a “grave political provocation,” according to South Korean news agency Yonhap .
In the aftermath of the $6B hack, some XRP holders may have withdrawn their tokens from centralized exchanges and transferred them to newly created personal wallets, giving them direct control over their private keys. This could help explain the increase in new addresses, although wallet creation alone does not establish that new investors entered the XRP market.
Nevertheless, Santiment highlighted a potentially positive interpretation of the wallet surge. “Strong network growth while XRP trades near $1.25 suggests usage is improving even while price remains under pressure,” the analytics platform noted. This suggests that activity across the XRP Ledger may be strengthening even as the token continues to face bearish price pressure.
XRP’s Bullish Case Faces a Crucial Test at $1.30
According to Santiment’s analysis, XRP’s immediate pivot point sits around $1.25, while a move above $1.30 could signal the first sign of strengthening bullish momentum. Reclaiming that level would suggest buyers are regaining control after the recent price weakness.
Santiment added that network activity could offer further confirmation. If new-wallet creation remains above roughly 4,000 per day while XRP climbs back above $1.30, the bullish outlook would become more convincing.
“If new-wallet growth stays above roughly 4K per day while XRP reclaims $1.30, the setup becomes more constructive,” the analytics firm stated.
However, the signal could weaken if XRP falls below $1.20 and daily wallet growth drops under 3,000. That combination would suggest both market momentum and network activity are losing steam.
XRP was trading at $1.27 at press time, up 1.9 percent for the day, according to CoinGecko.
