XRP price is attempting a modest recovery after bouncing off a key lower support level, as network growth on the XRP Ledger reaches its fastest pace in eight months.
Summary
- XRP price bounced after hitting support, but broader price trend remains weak.
- Over 21,500 new wallets were created in 48 hours, indicating fresh network activity.
- Derivatives positioning is cautious, but exchange-traded fund developments and institutional moves are key triggers.
XRP is trading at $2.33, up about 4% over the past 24 hours after finding support at the lower Bollinger Band. The past week has seen a range between $2.12 and $2.58, with the token still down 9.6% over 7 days and 22% across the month. It remains roughly 36% below the $3.65 peak set in July.
Trading activity has cooled. The 24-hour volume for XRP (XRP) has fallen to $5.53 billion, a 43.10% decline, suggesting less aggressive positioning after the recent bounce.
In the derivatives market, futures volume is down 35.95% to $8.62 billion, while open interest has risen slightly to $3.49 billion, up 2.08%. This combination often indicates that traders are keeping positions open but are rotating into lower-leverage or more cautious setups.
Wallet growth surges as dip buyers re-enter
According to a Nov. 6 post on X by Santiment, in the past two days, XRP Ledger data recorded 21,595 new wallets. This is the strongest burst of new addresses in the last 8 months. It follows a brief sell-off earlier in the week. The timing suggests that some market participants used the pullback to build or re-enter positions rather than step aside.
Additionally, a Nov. 5 CryptoQuant analysis shows a noticeable rise in transaction activity on the XRP Ledgerâs integrated decentralized exchange. More than 950,000 transactions were made in a single session, the busiest day in months. Â
This type of activity does not necessarily indicate steady price increases, even though it often shows renewed interest.
The coming weeks may bring a shift in sentiment depending on how regulatory developments take shape. Several spot XRP ETFs are approaching decision windows, including Canary Capitalâs amended filing, which could auto-activate as soon as Nov. 13. If approved, some market analysts expect this could create $1-$2 billion in inflows.
XRP price technical analysis
The recent rebound began right at the lower Bollinger Band, which has been acting as near-term support during the decline. Price is now pressing toward the mid-band, near the $2.45â$2.50 area, which also aligns with several short-term moving averages. This zone remains the first hurdle for any sustained recovery.
XRP daily chart. Credit: crypto.newsMomentum indicators are mixed. The relative strength index sits near 41, suggesting the market is no longer in a heavy oversold zone, but still below levels that would confirm a renewed uptrend. The MACD remains negative, indicatong that downward pressure has not fully eased.
Most of the major moving averages, particularly the 50-day and 100-day, are still above the current price, which keeps the broader trend tilted cautiously lower for now.
If the price can close above the mid-band region, the next area to watch is around $2.65, where prior consolidation took place. Failure to break above near-term resistance could leave $2.20 exposed again, and a deeper pullback may revisit the psychological $2.00 level.
Source: https://crypto.news/xrp-price-rebounds-xrp-ledger-wallets-surge-2025/
