XRP Adds 4,300 Wallets in a Day; On-Chain Data Suggests a Bullish Setup

XRP is seeing one of its sharpest bursts of network expansion this year, a development on-chain analysts say can precede a bullish turn. Santiment reported that roughly 4,300 new XRP wallets were created in a single 24-hour period, the fourth-largest daily wallet-growth spike of 2026. Santiment said the jump stands out because network growth is "among the top leading signals to identify reversals," and grouped the move with other indicators suggesting XRP may be offering a comparatively lower-risk entry. In a recent livestream, Santiment analyst Brian Quinlivan pointed to three data points: new wallet inflows, weak holder profitability, and subdued social sentiment. In his view, the combination supports an "undervalued" setup. Key on-chain metrics cited by Santiment: - 365-day MVRV (average holder unrealized profit/loss): about 35.12% - 30-day MVRV: around 3% Quinlivan said readings below zero imply both recent and longer-term holders are not sitting on substantial unrealized gains, a condition that has historically aligned with cooler market positioning and lower risk. He also emphasized the long-term measure, saying: "Anything below 30, no matter what asset you're looking at, that's something that should provide confidence in your investment because you have something that quantifies how much blood in the streets there is." He argued that deeper drawdowns among existing holders can make entries less fraught. Sentiment data also leaned toward a contrarian interpretation. Santiment measured XRP's social tone as more negative than normal, with about 1.7 bullish comments for every bearish one, below XRP's typical roughly 2:1 bullish baseline. Excluding a May 14 outlier, sentiment had stayed under its average for around 10 days, a pattern Santiment often views as constructive because extreme optimism tends to cluster near local highs while apathy or frustration can precede more attractive entry points. Quinlivan framed the setup against a softer altcoin environment, where many tokens have lagged Bitcoin's gains and narrative-driven excitement can fade quickly without price confirmation. He cited a recent Rakuten partnership narrative tied to XRP as an example of attention dissipating when the market fails to respond. At the time of reporting, XRP was trading around $1.36.