XRP is showing mixed signals as whale activity and network growth paint a complex picture of its current market position. Recent data indicates that while large holders are curbing their selling activity, the XRP Ledger is experiencing a surge in new wallets, reaching an eight-month high.
Wallet Growth Soars
The XRP Ledger has seen a substantial increase in user participation, with over 21,595 new wallets created in a span of just 48 hours. This rapid expansion, the highest in eight months, signals renewed interest in the XRP ecosystem from both retail and institutional investors. Santiment, an analytics firm, noted this surge coincided with a market rebound, suggesting investors are capitalizing on a recent dip. This influx of new users has pushed the total number of wallets to 7.226 million, moving towards the 7.5 million mark. The last time a similar growth pattern occurred, XRP's price surged to a yearly high of $3.66.
Whale Activity and Market Impact
Despite the positive network growth, large-scale XRP holders, often referred to as "whales," have been observed adjusting their positions. Market analyst Ali Martinez reported that whale addresses holding between 100 million and 1 billion XRP had reduced their holdings by approximately 900,000 tokens over five days. This offloading of tokens has contributed to bearish sentiment, pushing XRP towards a critical support zone around $2.20. CryptoQuant's Whale to Exchange Flow data indicates a sustained uptick in large transfers to exchanges, beginning in late 2024, suggesting that these large holders may have been planning to take profits. CryptoOnchain, a market technician, pointed out that the 100-day simple moving average (SMA) of these transfers hit record highs around Ripple's latest capital injection, further supporting the idea of a planned distribution phase.
Market Dynamics and Price Performance
XRP's price has experienced volatility, with a recent correction to $2.06, a level last seen in late June. However, it has since rebounded, demonstrating strength and growing in tandem with the creation of new wallets. As of November 6, 2025, XRP is trading around $2.33, marking a 4% gain in the last 24 hours. This price recovery has benefited those who bought the dip, with analysts projecting continued momentum and potentially higher prices. Despite the positive price correction, the XRP Ledger's built-in decentralized exchange (DEX) processed a record 954,000 transactions in a single day, indicating significant on-chain activity.
Future Outlook
The future of XRP remains tied to broader market sentiment and liquidity dynamics. While increased retail participation and network growth are positive indicators, the influence of whale activity cannot be ignored. Some analysts suggest that XRP's price will remain suppressed until whale selling pressure subsides. However, Ripple's strong long-term fundamentals and recent capital injection provide a solid foundation for future growth. Moreover, XRP has demonstrated strength over the past few days, growing in tandem with the creation of new wallets. From its low of $2.06 on Tuesday, XRP has rallied 13% to its current market price of $2.33. Those who bought the recent dip are now the major beneficiaries of this rebound. Notably, a $10,000 purchase two days ago would have added $1,300 already.
