XRP Holders Hit a Record 8.24 Million, So Why Is the Price Still Sliding?
For ETF investors, the key lesson is not really about XRP’s wallet count. It is about the danger of mistaking a single adoption-style metric for a durable investment signal. More non-empty addresses can indicate growing network activity, but address growth does not automatically translate into stronger pricing power, especially when one participant can control multiple wallets and when exchange-related activity can distort the picture.
The more relevant portfolio question is what kind of exposure a spot XRP product actually adds. This is a narrow, single-asset holding whose returns can be driven by flows, sentiment and positioning as much as by any improvement in network usage. The article itself shows that tension: wallet growth looks supportive on one side, while whale deposits to exchanges suggest potential near-term selling pressure on the other. For a long-term allocator, that is a reminder that adoption data and price behaviour can diverge for extended periods.
The ETF flow figures also deserve perspective. A modest rebound in inflows may sound constructive, but small weekly creations do not necessarily offset falling asset values when the underlying token is declining. That matters because investors sometimes read any positive flow as confirmation, when it may simply reflect short-term trading interest rather than a broad change in conviction.
In practice, this looks less like a building-block allocation case and more like a high-volatility satellite exposure. Investors considering this segment should focus less on headline wallet records and more on position sizing, concentration risk and whether the holding serves a clear role inside a diversified long-term portfolio.
XRP (XRP) now counts a record 8.24 million non-empty wallets on its ledger, according to Santiment. Yet, the token has dropped 17.21% over the past month to $1.31.
Large holders and spot ETF investors, meanwhile, have been sending mixed signals. The price now trades just above a level Santiment treats as a test for the adoption signal.
Holder Growth Meets Whale Deposits and a Small ETF Rebound
Santiment’s data shows the holder count has kept climbing through months of price swings. The latest reading showed 4,772 new wallets in a single day, the fifth-largest spike since March.
XRP Total Holders and Network Growth. Source: X/Santiment
Still, wallet counts track addresses rather than people. One user or exchange can control many of them
Larger holders, meanwhile, have been moving their XRP toward exchanges. They sent $112.4 million worth to Binance, the most in 7 months, according to analyst Darkfost. BeInCrypto reported that the move signals rising selling pressure.
Spot XRP ETFs make up the more positive side of the picture. The funds have taken in $4.25 million so far this week, per SoSoValue data, after a $1.84 million outflow the week before ended 13 straight weeks of inflows.
Even so, this week’s rebound is small compared with September. Over the past four weeks, the funds added $18.5 million, while the week ending September 25 alone brought in $75.6 million.
With cumulative inflows nearly flat, total net assets have followed XRP’s price lower. They fell to $1.49 billion from $1.77 billion on September 25.
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XRP Hovers Just Above the $1.30 Line Santiment Is Watching
XRP’s price has yet to reflect any of that wallet growth. The altcoin now trades at $1.31, down 2.59% over the past day. That leaves it just above $1.30, one of the two levels Santiment is watching.
XRP Price Performance. Source: BeInCrypto Markets
The firm outlined the downside. It said a drop below $1.30 would weaken the adoption signal, particularly if daily new wallets fall under roughly 3,000.
Santiment also set out the upside case in the post.
“$1.40 is the first level to watch. A sustained move above it while network growth stays near or above 4K daily wallets would mean a quick return to $1.50 is more than plausible,” it wrote.
XRP now sits less than 1% above $1.30 and about 7% below $1.40. The next few days of wallet data may show which level gives way first.
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The post XRP Holders Hit a Record 8.24 Million, So Why Is the Price Still Sliding? appeared first on BeInCrypto.
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