As of November 11th, XRP has experienced a significant decline, dropping over 3% to approximately $1.06. Ongoing bearish market conditions, exacerbated by ETF withdrawals and generally weak sentiment in the cryptocurrency sector, contribute to this trend.
Summary
Initially, XRP was trading above $1.10 earlier in the day, but it quickly fell to an intraday low near $1.03. The cryptocurrency’s performance over the past week reflects a staggering 15.4% loss, while the monthly statistics reveal a drop approaching 25%, placing it more than 58% lower than its price one year ago.
Reasons Behind Recent XRP Price Decline
Recently, investor confidence in XRP has been shaken by substantial capital withdrawals from spot ETFs. Data from SoSoValue highlights that on November 9 alone, there was a net outflow of $10.42 million from these funds. The Bitwise ETF was particularly affected, accounting for about $9.4 million of this total.
In addition, other lesser-known ETFs such as Canary Capital’s XRPC and the 21Shares TOXR fund also recorded outflows of approximately $811,440 and $212,900, respectively. Although these withdrawals are notable, they represent less than 1% of the total assets within the funds.
The bearish trend comes even after a strong showing in August, when the Spot XRP ETF drew in $110.49 million within just a week, pushing cumulative inflows to exceed $1.66 billion. At that time, XRP showcased its best monthly performance in 2026, increasing by 37%. However, the recent downward trajectory has significantly reversed those gains, placing XRP well below late summer highs.
Bullish Sentiment Among Binance Traders
Contrary to the bearish price action, data from the derivatives market reveals that Binance traders maintain a bullish posture. Analysis by CryptoQuant indicates that the rolling 30-day cumulative funding rate for XRP perpetual futures on Binance has reached approximately 0.18%, the highest it has been since October 2025.
Despite a correction of around 30% from its previous highs, this strong funding rate indicates that traders with long positions are currently paying short sellers. However, Dirkforst cautioned that historically high funding rates are often linked to local price peaks for XRP.
Meanwhile, another CryptoQuant analyst, Amr Taha, pointed out that XRP’s 7-day average spot trading volume surged by 53.2% from $513 million on October 28 to $786 million by November 9. While this spike in activity corresponds with the price drop, it does not clarify whether it signifies accumulation or liquidation of holdings among investors.
Moreover, data reveals that XRP’s 30-day average open interest on Binance has decreased from around 512 million XRP to 453 million XRP since mid-October, indicating that outstanding futures positions have diminished during this corrective phase.
Technical Analysis: Is Support at $1.05 Sustainable?
From a technical perspective, XRP is in a pattern of lower highs and lows, struggling to maintain its price above $1.08 in recent hours. The cryptocurrency dipped to about $1.035 before a minor rebound attempt brought it back toward $1.07; however, sustained buying pressure proved elusive.
At present, immediate support is seen at the $1.05 level, followed closely by an area around $1.03-$1.04, where the latest bounce initiated. Should XRP fall below this zone, it may draw attention to the crucial psychological level of $1. Conversely, if the price climbs above $1.07, a retest of the resistance range between $1.08 and $1.10 could occur.
The daily Relative Strength Index (RSI) for XRP indicates an approaching oversold condition, with recent values dropping to 25. Despite this, the token continues to linger below major moving averages, reinforcing a bearish outlook. The 14-day RSI sits at 23.77, considerably under the oversold threshold of 30, while the MACD illustrates negative momentum at -0.0648, with a signal line of -0.0474. A MACD histogram reading of -0.0174 further emphasizes ongoing bearish sentiment.
Currently, XRP trades significantly below its 20-day, 50-day, and 200-day exponential moving averages, specifically at $1.22, $1.29, and $1.35, respectively. Additionally, it remains beneath the lower limit of the Bollinger Band at $1.08. The Williams %R value is at -93.08, while the Stochastic Oscillator indicates an extreme oversold condition at 5.36.
While the oversold criteria could signal a potential for recovery, the prevailing indicators still favor a bearish trend. A failure to hold above recent lows around $1.03 may reactivate focus on the psychological $1 mark, with recovery efforts needing to reclaim the $1.08-$1.10 range to alleviate current selling pressure.
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