Key Takeaways
- Santiment recorded 7,934 new XRP wallets on Nov. 1, the sixth-highest daily total of 2026.
- The firm suggested the Binance hack may have encouraged self-custody, meaning some addresses could belong to existing holders.
- A $30 XRP price would require a 2,300% rally from $1.25.
XRP recorded nearly 8,000 new wallets in a single day following the Binance hack, but the increase has raised questions about whether they are new investors buying or existing holders moving their coins.
Santiment’s Nov. 2 update identified 7,934 new wallets the previous day, placing it among the strongest days for network growth this year.
However, the analytics firm suggested that concerns about exchange security may have helped drive the increase.
At the same time, some of XRP’s biggest bulls are predicting a $30 XRP price — but this deserves a great deal of scrutiny.
XRP Wallet Growth Jumps After Binance Hack
“XRP network growth is accelerating fast,” Santiment wrote, describing Nov. 1 as the sixth-highest daily total of 2026.
The firm noted that the increase occurred on a Sunday, a typically quieter day for network activity, while XRP traded near $1.25.
Santiment said the Binance incident “may have pushed more users toward self-custody and fresh wallets.”
The security breach did not directly affect XRP holdings.
According to blockchain analytics company Bitquery, around $6.3 billion in crypto assets left Binance hot wallets across nine chains on Oct. 29.
Its investigation traced roughly 233.5 million XRP from five Binance accounts to an attacker-controlled account.
Binance’s $6.3 Billion Hack Puts Custody in Focus
The increase in XRP wallets followed one of the crypto industry’s biggest security failures.
As CCN reported, Binance suffered a breach totaling roughly $6.3 billion, leading it to temporarily suspend deposits.
The exchange’s investigation pointed to a compromised engineer’s laptop that may have allowed an attacker to submit unauthorized withdrawals.
Binance said it had found no evidence of leaked wallet private keys.
“Binance will cover all losses,” the company pledged.
The exchange said it would use company funds and its Secure Asset Fund for Users (SAFU) to absorb the losses.
It also pledged to publish updated proof of reserves after completing its remediation work.
Blockchain investigators TRM Labs and Chainalysis linked the attack to North Korea’s TraderTraitor group, which they previously connected to the $1.5 billion Bybit theft in February 2025.
New Wallets Do Not Necessarily Mean New Buyers
A holder who withdrew XRP months earlier into a newly created personal wallet can contribute to network growth without making another purchase.
For example, moving 1,000 XRP from an exchange into a new address changes where those tokens are held — but the investor still owns 1,000 XRP.
One person can also control multiple addresses, making it impossible to translate a wallet count directly into an equivalent number of investors.
However, there is still a potentially positive interpretation.
Holders taking direct control of their assets may become more active users of the network. Some of those new wallets may also belong to first-time buyers.
“Strong network growth while XRP trades near $1.25 suggests usage is improving even while price remains under pressure,” Santiment wrote.
What Would XRP Need to Reach $30?
The $30 prediction predates the latest wallet figures.
As CCN previously reported, crypto commentator @btcbox123 promoted that target without a firm deadline. I
Using the $1.25 price cited in Santiment’s update, XRP would need to rise 24-fold to reach $30—a 2,300% gain.
| XRP price |
Multiple of $1.25 |
Required gain |
| $5 |
4× |
300% |
| $10 |
8× |
700% |
| $30 |
24× |
2,300% |
For scale, assuming a circulating supply of 63 billion tokens, a $30 price would imply a market capitalization of approximately $1.89 trillion.
That would exceed Bitcoin’s current valuation of roughly $1.54 trillion by about 23% and be almost seven times Ethereum’s $274 billion market cap.
One strong day of wallet creation offers no way to measure whether demand could sustain that price.
Santiment’s Immediate Test Is Much Closer
Santiment’s own outlook also focused on nearer price levels.
The firm identified $1.30 as an initial test of improving momentum.
It said a recovery above that level, accompanied by daily wallet growth remaining above roughly 4,000, would strengthen the setup.
“If new-wallet growth stays above roughly 4K per day while XRP reclaims $1.30, the setup becomes more constructive,” the firm said.
However, a move below $1.20, alongside wallet growth dropping below 3,000, would weaken its assessment.
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
