XRP’s Rebound Faces a Tougher Test Than Breaking $1.30

The token traded near $1.25 to $1.28 in the latest reports, recovering modestly as broader crypto markets remained cautious. One market analysis pointed to a bullish Bollinger Band setup and a potential larger upside move, though that view depends on XRP holding its recent gains in an unsettled market.

The XRP Ledger added 7,934 wallets on November 1, according to Santiment data cited in market coverage. That was among the network’s strongest daily readings of the year and notable because it occurred on a typically quieter weekend.

Some observers linked the increase in self-custodial wallets to the recent Binance security breach, which shook confidence across the market. Yet more addresses have not translated into a clear change in trading psychology: bearish commentary on XRP still outweighs bullish sentiment, and the token remains down sharply over the past month.

That split matters. New wallets can signal growing usage or a shift toward self-custody, but they do not by themselves establish sustained buying pressure. For a more convincing recovery, XRP would likely need to reclaim $1.30 while daily network growth remains elevated.

Signals from the U.S. market are less encouraging. XRP’s Coinbase Premium Index fell to roughly negative 0.16%, an eight-month low, meaning the asset traded at a discount on Coinbase relative to Binance. Such a discount can point to weaker demand among U.S. retail and institutional participants, although it is not a definitive forecast of further declines.

Spot XRP exchange-traded funds also slowed in October, drawing $18.83 million in net inflows, compared with $121.40 million in September. The funds remained relatively stable around the late-October market disruption, but the slower pace suggests fresh capital has become more selective.

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