XRP Ledger Sees 8-Month High in Wallet Creation as Price Recovers

• Approximately 21,595 new XRP wallets were created over a 48-hour span, the highest level of wallet growth in over eight months.
• While XRP’s 12% price surge is a positive sign, market participants are setting their sights higher, with key targets at $3 and $5.

The XRP Ledger (XRPL) is a decentralized, public, and open-source blockchain platform designed for businesses and primarily used to enable fast, low-cost global payments for the Ripple network. It has been operating continuously and without error since its launch in 2012.

According to on-chain analytics from Santiment, the network also experienced a surge in adoption, with 21,595 new XRP wallets created in just 48 hours, the highest level of growth recorded in the last eight months.

The Total Value Locked (TVL) in XRPL’s DeFi sector has reached $79.75 million, a 5.21% increase over the past 24 hours. The stablecoin market cap currently stands at $307.77 million, a 43.73% jump in just seven days.

Its Decentralized Exchange (DEX) activity remains vibrant, with a 24-hour trading volume of $21.79 million and a weekly volume of $61.14 million, representing an impressive 62.01% weekly increase.

XRP, the native cryptocurrency of the open-source, decentralized Ledger, is known for its speed, low-cost transactions, and sustainability. Data from Santiemnt also highlights bullish sentiment: XRP’s price has rebounded by +12% in the past 24 hours, rewarding investors who bought the dip.

The token is currently trading around $2.30, with derivatives metrics showing mixed trends. Analyst Ali Martinez confirmed that, “For $XRP, resistance stands at $2.80 and $3, while support holds at $2.15.”

The Bullish Cases For XRP

All eyes are now on the potential approval of multiple XRP Exchange-Traded Funds (ETFs) expected next week. The U.S. government shutdown has entered its 36th day, breaking the record for the longest government shutdown. This has caused delays at the Securities and Exchange Commission (SEC), preventing the agency from meeting final decision deadlines on several XRP ETF filings.

Grayscale’s filing took precedence for review on October 17, with additional applications submitted shortly thereafter by 21Shares, Bitwise, Canary Capital, CoinShares, and WisdomTree.

It’s worth noting that XRP exchange-traded funds have already made their debut globally, with three spot XRP ETFs launching in Canada this past June, and Hashdex introducing the world’s first XRP spot ETF in Brazil earlier in April.

As highlighted in our earlier discussion, Grayscale Investments has filed an amendment to the registration statement of its Grayscale XRP Trust, confirming that the trust will serve purely as an investment vehicle with no active management to outperform XRP’s market performance.

Similarly, CNF confirmed that Canary Capital has also amended its ETF application, with expectations to launch on November 13. Market optimism is building, and analyst Dark Defender has projected that XRP could surge to $36.7.

Ripple has made a series of high-profile announcements at its Swell 2025 Conference. One of them is a partnership with Mastercard, WebBank, a Utah-chartered industrial bank, and Gemini. In a previous news brief, CNF disclosed that the collaboration centers around piloting Ripple USD (RLUSD).

This is the network’s regulated stablecoin issued under the New York Department of Financial Services (NYDFS) Trust Company Charter. Since its launch in 2024, RLUSD has already surpassed $1 billion in circulation, and the partnership plans to use XRPL to settle credit card transactions efficiently.

With low transaction costs, fast processing speeds, and a decade-long record of reliability, the XRP Ledger is one of the most robust and scalable blockchain infrastructures.