The number of non-empty XRP wallets has reached a record high of 8.24 million, according to data from Santiment. Despite this growth in network activity, the token price has declined by 17.21% over the past month, currently trading at $1.31. Daily network growth remains active, with 4,772 new wallets recorded in a single day.
Market behavior from large holders shows increased selling pressure, as they moved $112.4 million worth of XRP to Binance, marking the highest volume in seven months. Meanwhile, spot XRP ETFs have seen mixed results, recording $4.25 million in inflows this week after a previous outflow of $1.84 million.
Cumulative inflows for spot ETFs have remained largely flat, causing total net assets to drop to $1.49 billion from $1.77 billion on September 25. Analysts are monitoring the $1.30 price level, as a drop below this mark could weaken the current adoption signal, especially if daily new wallet registrations fall below 3,000.
The upside scenario depends on the token price sustaining a move above $1.40 while maintaining network growth at or above 4,000 new daily wallets. Achieving these conditions could potentially lead to a recovery toward the $1.50 level. Currently, the price sits less than 1% above the critical $1.30 support threshold.
