XRP added 7,934 wallets in one day, and a bunch of accounts hyped it up as "New money is coming in." Bro, new wallets don't mean new money.
The original data is from Santiment on November 1: 7,934 new addresses, the sixth-highest figure this year. Note that it’s sixth. There have been five days this year with more than that, so what? The price is still stuck around 1.25.
Even funnier is how the narrative is being packaged. Someone wrote "Hack FUD? XRP doesn't care," while someone replied under Cointelegraph saying this was network growth after Binance was hacked. What’s the causal link between a hack and new XRP addresses? Nobody offered any evidence. They just welded the two stories together, and suddenly there’s a narrative.
Address count is a pretty flimsy metric to begin with. One person can open ten addresses, and exchanges, bots, and arbitrage traders can all inflate the numbers. It can show that there’s activity on-chain, but it can’t tell you who’s buying, how much they’re buying, or how long they’ll hold. If you really want to track "new money," look at net spot buying, exchange balances, and changes in whale holdings—not the number of keychains.
One more thing: small accounts copied Santiment’s "Adoption Accelerates" passage word for word, and people copied Cointelegraph’s UPDATE line exactly, then added a few "JUST IN" posts and flooded the timeline within hours. That’s not on-chain data analysis; it’s a placebo for people looking for reassurance about their bags.
I’m not saying XRP has no chance. I’m saying don’t take an address count ranked sixth as a reason for confidence. If the price doesn’t buy it, it doesn’t matter how loudly you talk it up.
#XRP #OnChainData
The original data is from Santiment on November 1: 7,934 new addresses, the sixth-highest figure this year. Note that it’s sixth. There have been five days this year with more than that, so what? The price is still stuck around 1.25.
Even funnier is how the narrative is being packaged. Someone wrote "Hack FUD? XRP doesn't care," while someone replied under Cointelegraph saying this was network growth after Binance was hacked. What’s the causal link between a hack and new XRP addresses? Nobody offered any evidence. They just welded the two stories together, and suddenly there’s a narrative.
Address count is a pretty flimsy metric to begin with. One person can open ten addresses, and exchanges, bots, and arbitrage traders can all inflate the numbers. It can show that there’s activity on-chain, but it can’t tell you who’s buying, how much they’re buying, or how long they’ll hold. If you really want to track "new money," look at net spot buying, exchange balances, and changes in whale holdings—not the number of keychains.
One more thing: small accounts copied Santiment’s "Adoption Accelerates" passage word for word, and people copied Cointelegraph’s UPDATE line exactly, then added a few "JUST IN" posts and flooded the timeline within hours. That’s not on-chain data analysis; it’s a placebo for people looking for reassurance about their bags.
I’m not saying XRP has no chance. I’m saying don’t take an address count ranked sixth as a reason for confidence. If the price doesn’t buy it, it doesn’t matter how loudly you talk it up.
#XRP #OnChainData