XRP recorded one of its strongest days for new wallet creation this year after the Binance hack, according to Santiment. The increase contrasted with subdued prices, as the analytics firm suggested a possible shift toward self-custody.
Key Takeaways
- Nov. 1 brought 7,934 new XRP wallets, the sixth-highest daily total of 2026.
- Santiment identified $1.30 as a level to confirm stronger price momentum.
- Wallet growth above 4,000 daily plus a $1.30 reclaim would make XRP’s setup more constructive.
XRP Wallet Growth Accelerates Despite Price Pressure
Santiment reported on Nov. 2 that 7,934 new XRP wallets were created the preceding day, marking the sixth-highest daily total of 2026. The analytics firm’s assessment of XRP network growth, shared on X, highlighted the unusually strong Sunday activity while the cryptocurrency traded near $1.25.
“XRP network growth is accelerating fast,” Santiment stated. The firm connected the timing to the aftermath of the Binance breach, while qualifying the potential relationship. Santiment added:
“The surge follows a busy week for XRP and came just after the Binance hack, which may have pushed more users toward self-custody and fresh wallets.”
The wallet count measures new addresses rather than establishing how many distinct people joined the network.
A move toward self-custody of crypto assets would place control of private keys with holders rather than an exchange. That distinction underpins Santiment’s suggestion that the breach may have pushed users toward self-custody. Creating a separate wallet can reflect a change in custody arrangements as well as participation by a new user.
XRP price and network growth, with Santiment highlighting 7,934 new wallets on Nov. 1. Source: Santiment.
Binance Breach Forms Backdrop to Network Increase
The security incident directly involved XRP. Investigators found that five Binance wallets transferred 233.46 million XRP to an attacker-controlled address in approximately four minutes on Oct. 29. Each sending wallet retained only its minimum balance, according to transaction tracing cited in the findings.
Customer backing subsequently became a central part of the exchange’s response. Binance stated on Oct. 31 that XRP and nine other cryptocurrencies were fully backed, as it replaced stolen assets using company resources. That assurance concerned reserves supporting customer balances, a separate issue from customers’ ability to withdraw during the suspension.
The exchange’s phased withdrawal recovery plan scheduled an initial reopening window for Nov. 1, with XRP among the listed networks. Binance also reported that it had covered approximately 95% of the affected amount. Less liquid tokens accounted for the remaining shortfall, and the company pledged to bear the financial impact.
Santiment Identifies Conditions for Stronger XRP Momentum
Santiment identified $1.25 as the immediate pivot and $1.30 as the first level that would confirm stronger price momentum. Its outlook also depended on sustained wallet creation. The firm detailed:
“If new-wallet growth stays above roughly 4K per day while XRP reclaims $1.30, the setup becomes more constructive. A drop below $1.20 alongside network growth falling back under 3K would weaken that signal.”
Separately, the attacker moved the stolen XRP into six fresh wallets on Nov. 2, after the assets had remained largely untouched for roughly 80 hours. Those transfers occurred after the daily period highlighted by Santiment. Nine large payments between 3:52 and 4 a.m. UTC redistributed approximately 233.45 million XRP. As of writing, XRP is trading at $1.25.
Author: Kevin Helms
Source: Bitcoin
Reviewed By: Editorial Team
