XRP traded near $1.25 on Tuesday, November 3, as sellers continued to limit recovery attempts, even as the XRP Ledger posted one of its strongest days of the year for new wallet creation. Weak US demand, slowing exchange-traded fund (ETF) inflows, and cautious positioning in derivatives markets continued to weigh on the token, which has fallen nearly 16% over the past month. Market conditions deteriorated following the October 29 Binance hack, and buyers struggled to regain the $1.30 level.

The weekend surge in network activity contrasted with the token's subdued price performance, a split that illustrates how on-chain adoption metrics and market valuations can move independently.

XRP Ledger Added 7,934 Wallets After Exchange Breach

The XRP Ledger recorded 7,934 new wallets on November 1, according to Santiment, an on-chain and market intelligence platform. The figure was the ledger's sixth-highest daily total of 2026, and it stood out for landing on a Sunday, typically one of the quieter days for crypto network activity. New wallet creation is often tracked as a measure of network adoption, though address growth can reflect existing holders restructuring their funds as well as new participants.

Santiment suggested the Binance breach may have prompted more holders to create private wallets. Moving funds to self-custodied addresses is a commonly observed response after exchange security incidents. The metric counts newly created addresses, however, and does not show how many individual investors joined the network.

🚨 XRP Adoption Accelerates While Price Hovers Near $1.25 🌱 XRP network growth is accelerating fast. November 1st saw 7,934 new wallets created, the 6th highest daily total of 2026, despite Sunday usually being one of crypto's quieter days for network activity. 📈 The surge… pic.twitter.com/CIeC7iWOW8

— Santiment Intelligence (@SantimentData) November 2, 2026

US Demand Weakens as ETF Inflows Slow

Analyst Arab Chain reported that XRP's Coinbase Premium Index fell to approximately -0.16%, its lowest reading in eight months. The negative figure shows XRP traded below its Binance price on Coinbase, pointing to weaker relative buying on the US platform. Following the breach, Binance reserve checks covered XRP and nine other tokens.

US spot XRP ETFs attracted $18.83 million in October, according to SoSoValue, down from $121.40 million in September. ETF flows are widely watched as a gauge of institutional demand for an asset. Funds added $8.43 million on October 29 before recording $496,000 in outflows the next day. US spot Bitcoin ETFs also recorded $643 million in outflows on October 30, reflecting wider selling across digital assets.

Derivatives Traders Remain Divided

CoinGlass data showed XRP's long-to-short ratio below one on Tuesday, indicating more short positions than long positions in the measured market. Funding rates remained positive, however, meaning traders holding long positions continued to pay short sellers. Long-to-short ratios and funding rates are widely used gauges of derivatives positioning.

CryptoQuant, an on-chain analytics firm, also reported heavy selling in XRP spot and futures markets, alongside large whale orders. Separately, Ripple's scheduled escrow release moved one billion XRP on November 1, continuing its regular monthly release process. These releases follow a predetermined schedule on the XRP Ledger, making them an anticipated supply event rather than an unplanned transfer.

Resistance Near $1.30 as Sentiment Stays Weak

Santiment identified $1.25 as an immediate price marker and flagged $1.30 as the next level to watch. Recent XRP support analysis also placed buyers' attention near $1.20 following the October selloff.

Social sentiment remained subdued. Santiment counted roughly 0.61 bullish XRP comments for every bearish comment — below the 1:1 parity level — compared with 0.69 for Bitcoin and 1.14 for Ethereum. The firm said weaker sentiment could precede a recovery if prices stabilize, but it did not identify a confirmed bottom. Updated ETF flow tallies, daily wallet-creation figures, and derivatives positioning data due in the coming sessions will offer fresh readings on whether these trends persist.

This article originally appeared on CoinCentral.