XRP Sees a Major Network Surge – But Why Is the Price Still Struggling?

XRP price is trading near $1.25, with its price struggling to regain bullish momentum despite growing activity across the XRP Ledger. The latest Binance security breach, involving approximately $6.3 billion in stolen assets, has added another layer of uncertainty to the market, triggering significant customer outflows from the exchange. 

However, Binance has since reported that XRP is among the assets fully backed at a minimum 1:1 ratio under its latest Proof of Reserves verification. While this offers some reassurance to customers, it does not necessarily signal fresh buying demand for XRP. Meanwhile, network activity is picking up, raising an important question: 

Could the surge in XRP adoption support a price recovery, or will bearish technical conditions continue to weigh on the token?

XRP Network Activity Gains Momentum

While XRP’s price continues to hover near $1.25, activity across the XRP Ledger is showing encouraging signs of growth. Recent on-chain data points to an increase in wallet creation and payment activity, adding to the broader adoption narrative.

Wallet Creation Accelerates: 

The XRP Ledger recorded 7,934 new wallets on November 1, marking its sixth-largest daily increase of 2026, according to Santiment. The figure was more than double the recent 30-day average of approximately 3,500 new accounts. The increase is particularly notable, as it occurred on a Sunday, typically a quieter day for crypto network activity. 

Payment Volume Records A Sharp Increase: 

As per data from XRPScan, XRP’s reported payment volume climbed from approximately 229 million to 1.33 billion XRP within 24 hours. This points to a significant increase in transaction activity across the network. However, the surge needs further examination to determine whether it reflects organic payment adoption, large wallet transfers or exchange-related movements.

Institutional Adoption Strengthens the Ecosystem Narrative: 

Ripple’s regulatory progress, banking relationships and developments around institutional custody are adding to the longer-term adoption outlook. Meanwhile, the broader tokenization push and XRPL’s expanding DeFi ecosystem could create additional use cases for the network. However, these developments do not automatically translate into direct buying demand for XRP.

Taken together, these developments suggest that XRP’s network activity is improving even as its price struggles to gain momentum.  

XRP Price Analysis: Can Bulls Defend the $1.25 Support?

XRP is attempting to stabilise around $1.25 after an extended decline from its 2025 highs. The weekly chart shows that the token has recently struggled to sustain its recovery above the $1.50 to $1.60 resistance zone, with sellers pushing prices back towards the immediate support area of $1.23 to $1.26. This region represents the immediate support zone on the shared weekly chart. XRP needs to sustain this area to prevent another move towards the lower levels.

The weekly chart suggests the XRP price is hitting the middle bands of Bollinger, and a rebound is much expected from here to prevent an extended bearish move. On the other hand, the weekly MACD shows a drop in bullish pressure, with the levels heading towards a bearish crossover. 

Bullish and bearish scenarios

Bullish scenario: XRP holds the $1.23 to $1.23 support zone. Sustained buying pressure could open the way towards $1.50 to $1.60. A breakout above this resistance zone would strengthen the recovery outlook.

Bearish scenario: A sustained weekly breakdown below $1.23 could expose the $0.9947 support level. Failure to defend this region would further weaken the recovery structure.

Can Rising Network Activity Trigger an XRP Price Recovery?

XRP’s improving network activity and institutional developments offer encouraging signs for its longer-term adoption outlook. The addition of 7,934 new wallets and the reported surge in payment volume suggest that activity across the XRP Ledger is picking up, even as the token struggles to regain bullish momentum.

However, the price action has yet to reflect these developments convincingly. XRP needs to defend the $1.25 support region and reclaim nearby resistance before it can establish a stronger recovery. A move towards $1.50 would provide a more meaningful sign of improving market structure.

For now, the fundamental picture is constructive, but the technical outlook remains cautious. Whether growing network participation can translate into sustained buying pressure will be crucial in determining XRP’s next major move.

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