🚨 XRP ADDS NEARLY 8,000 NEW WALLETS, BUT INSTITUTIONAL DEMAND SLOWS
The XRP Ledger saw strong growth in on-chain activity, but demand indicators in the U.S. market point to a less optimistic outlook.
📈 ON-CHAIN GROWTH
According to Santiment data, the network recorded 7,934 new wallets on November 1, the sixth-largest daily increase of 2026.
The figure is particularly notable because Sundays typically see less activity in the crypto market.
However, new wallets do not necessarily mean new investors: a single user can control multiple addresses.
🏦 ETF MOMENTUM FADES
Demand for spot XRP ETFs has also slowed:
🔹 September: $121.4 million in net inflows. 🔹 October: $18.83 million in net inflows. 🔹 November 2: approximately $529,500 in net outflows.
Even so, the funds have still amassed approximately $1.81 billion in net inflows since launch.
🇺🇸 COINBASE PREMIUM HITS AN 8-MONTH LOW
Another warning sign comes from the Coinbase Premium Index, which fell to approximately -0.16%.
A negative premium indicates that XRP is trading below its price on Binance, suggesting relatively weaker buying pressure on Coinbase, a major platform for U.S. investors.
📊 WHAT DOES THIS MEAN?
We’re seeing two distinct trends:
🟢 Significant growth in the number of wallets, signaling an expansion in on-chain activity.
🔴 Lower capital inflows into ETFs and weakening relative demand on Coinbase.
This divergence shows that network growth and token appreciation do not necessarily go hand in hand in the short term.
The next thing to watch is whether user growth will be accompanied by greater capital inflows and a recovery in U.S. demand.
Adoption is growing, but the market still needs to show stronger buying pressure.
$XRP
The XRP Ledger saw strong growth in on-chain activity, but demand indicators in the U.S. market point to a less optimistic outlook.
📈 ON-CHAIN GROWTH
According to Santiment data, the network recorded 7,934 new wallets on November 1, the sixth-largest daily increase of 2026.
The figure is particularly notable because Sundays typically see less activity in the crypto market.
However, new wallets do not necessarily mean new investors: a single user can control multiple addresses.
🏦 ETF MOMENTUM FADES
Demand for spot XRP ETFs has also slowed:
🔹 September: $121.4 million in net inflows. 🔹 October: $18.83 million in net inflows. 🔹 November 2: approximately $529,500 in net outflows.
Even so, the funds have still amassed approximately $1.81 billion in net inflows since launch.
🇺🇸 COINBASE PREMIUM HITS AN 8-MONTH LOW
Another warning sign comes from the Coinbase Premium Index, which fell to approximately -0.16%.
A negative premium indicates that XRP is trading below its price on Binance, suggesting relatively weaker buying pressure on Coinbase, a major platform for U.S. investors.
📊 WHAT DOES THIS MEAN?
We’re seeing two distinct trends:
🟢 Significant growth in the number of wallets, signaling an expansion in on-chain activity.
🔴 Lower capital inflows into ETFs and weakening relative demand on Coinbase.
This divergence shows that network growth and token appreciation do not necessarily go hand in hand in the short term.
The next thing to watch is whether user growth will be accompanied by greater capital inflows and a recovery in U.S. demand.
Adoption is growing, but the market still needs to show stronger buying pressure.
$XRP
