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New funded accounts more than doubled the recent daily average, though no clear catalyst has emerged
The XRP Ledger picked up 7,934 new wallets on November 1, its sixth-highest daily total of 2026.
The jump also stands out against recent history. Research compiled on the activity puts November 1 as the busiest day for new account activations since late September.
What the numbers show
Estimates for the day vary slightly depending on the data source. The research findings place new funded accounts somewhere between 7,734 and 7,962 on November 1, a range that brackets the 7,934 figure.
The recent 30-day average sits at around 3,500 new accounts per day, so November 1 came in at more than double the typical pace.
The spike did not arrive out of nowhere. On October 31, the network logged 4,772 new wallets, which already cleared the 30-day average by a comfortable margin before November 1 nearly doubled that day’s tally again.
The broader wallet count was also climbing. Total non-empty wallets on the XRP Ledger reached a record 8.24 million by the end of October.
Price stayed put while activity moved
The wallet growth happened without any matching move in XRP’s price. Around November 2, XRP traded between $1.25 and $1.31.
The research findings note that no specific catalyst for the surge has been identified. There was no headline announcement, no listing event and no single launch that clearly explains the inflow.
Possible drivers floated in the research include growing interest in tokenized assets or decentralized finance (DeFi) applications built on the XRP Ledger, though none of these has been confirmed as the cause.
Why wallet counts deserve a footnote
Before anyone reads 7,934 new wallets as 7,934 new people, there is an important caveat. These figures track funded ledger addresses, not unique users.
One person, exchange or business can control many accounts. A single entity spinning up dozens of addresses for operational reasons would show up in the data exactly the same way as dozens of first-time users.
Funding an account on the XRP Ledger requires actually sending XRP to it, so each activation reflects at least some deliberate action rather than an address generated and forgotten.
What this means for XRP watchers
The research findings frame the activity as a possible sign of renewed interest in the XRP network, even amid a volatile market. They also suggest that engagement on the ledger may be becoming less tied to speculative trading, given that it rose while price went nowhere.
The research is explicit that it remains to be seen whether this jump marks the start of a sustained growth phase or turns out to be an isolated event.
Earlier spikes in October showed similar patterns, which supports the idea of a broader upward drift in activations through 2026.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
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