XRP slid to around $1.10 on Monday, extending a selloff that has pushed the token to its lowest level in months. The decline, down about 5.5% over 24 hours and roughly 11% on the week as of 05:37 GMT, comes amid broader weakness across crypto and technology assets and a retreat in leveraged trading.
Data points cited by market trackers show ETF demand in the US has stalled while large-wallet activity appears to be increasing, leaving investors split between hopes of dip-buying and concerns that technical breakdowns could invite further downside.
Key takeaways
- Price move: XRP was trading near $1.10, down about 5.5% on the day and about 11% for the week.
- Catalyst: A wider crypto/technology selloff, leverage unwinding, and stalled ETF flows weighed on risk appetite.
- Key implication: The $1.10 zone is a near-term battleground; a clean break could expose lower support around $1.
- Counter signal: Reported whale accumulation and large-wallet increases suggest some buyers may be active beneath the selloff.
What drove the move
XRP’s drop unfolded alongside a broader market pullback. The token weakened after bitcoin fell toward $74,000, with market participants citing concerns around AI spending and the possibility of US regulation that reduced appetite for high-risk assets, according to the article’s summary of the day’s macro drivers.
Technically, XRP has slipped below $1.20 and multiple moving averages, a shift that tends to pressure traders positioned for continued gains and increases the likelihood of fast momentum declines when support breaks.
Leveraged positioning also appears to have deteriorated. One early Monday snapshot cited in the report put XRP derivatives liquidations at $23.64 million over 24 hours, with about 97% tied to long positions. The report also noted declining futures open interest, consistent with traders reducing exposure rather than adding new bets on upside.
Liquidations can accelerate price weakness because exchanges close positions when collateral runs short. However, the report cautioned that forced selling does not always explain the initial move, since it can occur after the market has already begun falling.
On the flow side, CryptoQuant analyst Darkfost reported that 418.5 million XRP left Binance on November 4, described as its largest daily withdrawal in nine months. Darkfost said such withdrawals do not guarantee an upward move and could involve internal transfers, meaning the data points to changes in custody rather than definitive evidence that investors converted withdrawals into spot buying.
Market reaction and positioning
While XRP’s spot price fell, the report highlighted a divergence between ETF activity and on-chain-style signals. According to SoSoValue, US spot XRP exchange-traded funds recorded no positive net inflows last week. It added that reported whale accumulation reached 16.46 million tokens.
ETF flows in particular showed a cooling of institutional demand. The report said US spot XRP ETFs recorded net outflows of $529,500 last week, all attributed to Canary Capital’s XRPC fund on November 2. It further noted that the subsequent four sessions saw zero net flows, implying that creations and redemptions broadly balanced during that stretch rather than indicating a total absence of trading.
Broader fund performance has been uneven. The report said October brought about $18.8 million in inflows, sharply below September’s $121.4 million, while cumulative inflows remained near $1.81 billion. Total fund assets were reported at about $1.34 billion, and the piece emphasized that declining token prices can reduce fund asset values without implying investors withdrew cash.
In parallel, independent analyst Ali Martinez cited Santiment data, stating that large wallets added more than 16.46 million XRP in five days as the price fell from $1.34 to $1.15. Martinez summarized the dynamic as “Price is falling. Whales are buying.” The report, however, noted a key limitation: wallet balance changes cannot reliably identify who ultimately controls assets or whether tokens were purchased versus moved between addresses.
What to watch next
The near-term technical test is the $1.10 area, which the report said XRP approached after losing prior support around $1.14 to $1.16. If XRP holds that band, it could encourage bargain hunting; if it breaks decisively, the report pointed to a path toward $1.05 to $1.06 and then the psychological $1 threshold.
Some assessments cited in the report also mentioned an additional downside level around $0.98. Another commentator, Celal Kucuker, said XRP “could test $1.10–$1.05 before reversing,” though the report characterized longer-term targets as speculative and dependent on a technical trendline breakout.
For recovery to become more convincing, the report argued buyers would first need to reclaim roughly $1.15 to $1.16, then challenge the $1.20 to $1.22 region. With ETF inflows described as stalled, leveraged exposure shrinking, and whale-related accumulation appearing to offset weak demand only imperfectly, the outlook remains unsettled and highly sensitive to whether support around $1.10 can be defended.
Investors will likely focus next on continuing ETF flow data, whether derivatives liquidation activity eases, and technical follow-through around $1.10 and $1. The next meaningful catalysts for the broader market would include incoming macro headlines that influence rate and risk expectations, along with updates tied to US regulatory signals affecting crypto sentiment.
