XRP Price Struggles Despite Surge in New Wallets

XRP price remains under pressure despite a significant increase in wallet creation across the XRP Ledger, raising questions about whether growing network activity can support a meaningful market recovery. According to blockchain analytics firm Santiment, the network recorded 7,934 new wallets on November 1, marking its sixth-highest daily total of 2026. However, XRP continues trading near $1.25, while demand indicators from US cryptocurrency exchanges and investment funds suggest investors remain cautious. We believe this contrast highlights an important development: growing blockchain participation does not always translate into stronger cryptocurrency prices.