TLDR
- XRP Ledger’s non-empty wallets reached a record 8.24 million, according to Santiment.
- Daily new-wallet creation climbed to 4,772, the fifth-largest increase since March.
- XRP faces an initial resistance test at $1.40, followed by the 1.5093–1.6667 zone.
- A developing inverse head and shoulders pattern suggests a possible move toward $2.0084 if buyers confirm a breakout.
- A decline below $1.30 could weaken the near-term recovery outlook.
XRP price remains under pressure despite a record count of funded wallets on the XRP Ledger. A possible reversal pattern points toward $2, although several resistance levels still stand between the token and that target.
Santiment reported 8.24 million wallets holding XRP, alongside a sharp increase in new addresses. The figures arrived after several weeks of selling that left XRP more than 11% lower in October.
XRP Price Faces an Early $1.40 Test
XRP traded around $1.31 to $1.36 recently. Santiment identified $1.40 as the first level buyers must reclaim before the market can consider another move toward $1.50.
The research firm said daily wallet creation would need to stay near 4,000 or higher alongside any sustained price recovery. A break above $1.40 alone would not confirm the longer-term chart pattern.
Recent fund activity adds another concern. The end of a 13-week XRP ETF inflow streak followed roughly $2.3 million in withdrawals during the week ending October 16.
Record XRP Wallets Contrast With Selling
Santiment recorded 4,772 new wallets in one day, the fifth-largest daily increase since March. Total non-empty addresses reached their highest recorded level despite the token’s recent decline.
These addresses do not represent 8.24 million separate investors. Individuals and exchanges can control multiple wallets, while opening an address does not necessarily mean buying XRP immediately.
Meanwhile, large XRP deposits to exchanges have raised questions about selling pressure. Exchanges received 6.05 billion XRP over 30 days, although transfers alone cannot establish whether holders sold their tokens.
Chart Pattern Keeps $2 Target in View
The weekly chart shows a possible inverse head and shoulders formation. XRP reached $1.2795 in April, dropped to $0.9874 in August, and later recovered from a $1.2550 low.
The pattern remains unconfirmed. XRP price must clear a resistance area between $1.5093 and $1.6667, where sellers have repeatedly blocked recovery attempts since February.
A recent report on XRP long-position liquidations described more than $300 million in positions closed within 24 hours. The losses reflect recent market weakness rather than a confirmed change in the broader trend. A sustained move above the neckline could put the $2.0084 Fibonacci level in focus. Until that happens, the bullish setup remains a possibility rather than a confirmed breakout.
