XRP saw a sharp jump in new wallet creation over the past day, even as market sentiment toward the token stays unusually subdued. Santiment reported 4,300 new XRP wallets opened in a single 24‑hour window, marking the fourth-largest growth spike of 2026. The surge comes at a time when XRP's social sentiment has been running below its typical bullish average for roughly ten days.
New wallets vs. cold sentiment
The 4,300 figure stands out, but the broader mood around XRP isn't matching the network activity. According to Santiment, XRP's social sentiment currently registers 1.7 bullish comments for every bearish one. That's below the token's usual 2‑to‑1 bullish baseline and suggests a quieter, less excited crowd than normal. The data provider noted that sentiment has hovered below that average for about ten days, with the exception of a brief spike on May 14.
XRP was trading at $1.36 at press time. The price hasn't moved dramatically despite the wallet growth, leaving traders to weigh whether the network expansion will eventually pull sentiment higher.
MVRV ratios point to potential undervaluation
Two key MVRV (Market Value to Realized Value) metrics are flashing what some analysts consider a contrarian signal. XRP's 365-day MVRV ratio stood at approximately -35.12% according to Santiment data. A negative long-term MVRV typically means the average holder who bought in the last year is sitting on an unrealized loss. Meanwhile, the 30-day MVRV ratio was roughly -3%, suggesting more recent buyers are also slightly underwater.
Together, those numbers can indicate that XRP is trading below its cost basis across multiple timeframes. Historically, prolonged negative MVRV readings have sometimes preceded price recoveries, though there's no guarantee of a repeat.
Network growth as a leading indicator
Santiment's analytical framework treats network growth — the rate of new wallet creation — as a top leading indicator for potential price reversals. The idea is that new participants entering the ecosystem can signal building demand, even when sentiment is down. The 4,300 wallet spike is the fourth-largest of the year, and Santiment says similar bursts have occasionally preceded shifts in price direction.
But the data provider also warns that sentiment has been stuck below its typical average for more than a week. That disconnect between wallet growth and market mood leaves an open question: will the new wallets eventually shift the emotional tone, or is the token simply adding dormant addresses?
No official explanation for the wallet spike has been offered by Ripple or any other entity. The increase could stem from exchange inflows, new DeFi activity on the XRP Ledger, or something else entirely. For now, traders are left watching whether the pace of wallet creation holds steady in the coming days — and whether the sentiment baseline moves closer to its usual bullish level.
