XRP 7,934 new wallets were added, and the payment volume reportedly soared to 1.33 billion XRP, indicating an increase in network activity.

The institutional progress of Ripple and the continuously expanding XRPL ecosystem have strengthened its long-term adoption of narrative, however, the direct needs of XRP remain uncertain.

XRP must hold the support range between $1.23 and $1.26 and regain the resistance level to confirm a potential rebound. Among these, $1.50 remains the key upward resistance.

With the increase in degree, will it be able to support a price rebound, or will the bearish technical outlook continue to suppress this token?

XRP Enhanced online activity momentum

Although the price of XRP is still hovering around $1.25, the activity around XRP Ledger is showing encouraging signs of growth. The latest on-chain data indicates that both wallet creation and payment activities have increased, further reinforcing the narrative of broader adoption.

Wallet creation acceleration:On November 1st, XRP Ledger recorded 7,934 new wallets. According to Santiment data, this is the sixth-largest single-day increase of 2026 so far. This number more than doubles the 30-day average of around 3,500 new accounts recently. Notably, this growth occurred on a Sunday, which is usually a day with relatively less activity in the crypto network.

Significant increase in payment volume:According to the data from XRPScan, the volume of payments reported by XRP increased from approximately 229 million to 1.33 billion XRP within 24 hours, indicating a significant rise in network transaction activity. However, this surge still needs further examination to determine whether it reflects the adoption of organic payments, large-value wallet transfers, or capital flows related to exchanges.

Institutions adopt enhanced ecological narrative:Progress in regulation, banking relationships, and development surrounding institutional custody for Ripple are all enhancing its prospects for long-term adoption. At the same time, the broader advancement of tokenization and the continuously expanding DeFi ecosystem of XRPL may create more use cases for this network. However, these developments do not automatically translate into direct demand for purchasing XRP.

Overall, these developments indicate that although the price of XRP still struggles to gain upward momentum, its network activity is improving.

XRP Price Analysis: Can the bulls hold the $1.25 support?

After a continuous decline from its 2025 high, XRP is attempting to stabilize around $1.25. The weekly chart indicates that it has been difficult for the token to sustain a rebound above the resistance range of $1.50 to $1.60 recently, with sellers pushing the price back down to the immediate support area of $1.23 to $1.26. The shared weekly chart shows that this region is currently the direct support zone. XRP needs to hold this level to avoid further declines.

The weekly chart shows that the price of XRP is approaching the middle band of the Bollinger Bands, and there is a general expectation in the market that a rebound will occur here to avoid further bearish trends. On the other hand, the weekly chart of MACD indicates that bullish momentum is weakening, and indicators are moving in the direction of a bearish crossover.

Bullish and bearish scenarios

• Bullish scenario:XRP Holds the support range between $1.23 and $1.23. Continuous buying pressure could open up space for it to reach $1.50 to $1.60. If it breaks through this resistance range, the prospects for recovery will be enhanced.
• Bearish scenario:If the weekly chart continues to fall below $1.23, it may expose the support level of $0.9947. If this level cannot be held, the recovery structure will further weaken.

Can an increase in online activity trigger a rebound in the price of XRP?

XRP The ongoing improvement in network activity and institutional progress provides encouraging signals for its long-term adoption prospects. The addition of 7,934 new wallets, along with the reported surge in transaction volumes, indicates that although it remains challenging for the token to regain its bullish momentum, the activity around XRP Ledger is indeed heating up.

However, price trends have not yet strongly reflected these developments. XRP needs to hold the $1.25 support level and recapture the nearby resistance levels in order to establish a stronger basis for a rebound. If it can rise to $1.50, it will be even more indicative that the market structure is improving.

For now, the fundamentals are relatively positive, but caution is still needed on the technical side. Whether the increase in online participation can be translated into sustained buying will be the key to determining the next major trend for XRP.