The XRP worth has dropped beneath the $2.00 psychological stage, revisiting ranges final seen through the October 10 crash.
In comes amid a broader bearish sentiment within the crypto market, that noticed the Bitcoin worth fall beneath the $87,000 stage and $220 million longs blown out of the water inside the hour.
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XRP Value Retests June Lows Because it Falls Beneath $2
As of this writing, the powering token for the Ripple ecosystem was buying and selling at $1.98, down 2.5% within the final 24 hours and practically 16% within the final week.
XRP Value Efficiency. Supply: TradingView
The drop got here as Bitcoin pulled the broader crypto market down after slipping beneath $87,000 and blowing over $220 million value of lengthy positions out of the water in an hour.
Surprisingly, the drop got here whereas the Ripple neighborhood was nonetheless within the XRP ETF frenzy, following Bitwise Make investments’s current transfer to launch the monetary instrument.
Very excited to launch the Bitwise XRP ETF $XRP. What a journey for this asset and this neighborhood. Excited to see what’s subsequent.
— Matt Hougan (@Matt_Hougan) November 20, 2025
In reality, Ripple CEO Brad Garlinghouse had solely hours in the past referred to as the “pre-thanksgiving rush” for the XRP ETF because the monetary instrument first hit the NYSE.
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Nonetheless, ETF analyst James Seyffart revealed that the monetary instrument was already making a reputation for itself, garnering $22 million in buying and selling with three hours left earlier than buying and selling closed on November 20.
“With a bit over ~3 hours left in trading Bitwise’s XRP is almost at $22 million in trading today. Quite impressive for the second product to market a full week after Canary Capital’s XRPC, which is the #1 launch by volume this year,” wrote Seyffart.
Canary Capital’s XRP ETF noticed robust early demand, with Bitwise’s monetary instrument following go well with regardless of current sentiment within the crypto ETF market.
Nevertheless, issues exist for the XRP neighborhood after Glassnode revealed a decline within the quantity of provide that’s at present in revenue. Clearly, there’s a disconnect between the ETF’s robust inflows and the XRP worth efficiency.
The share of XRP provide in revenue has fallen to 58.5%, the bottom since Nov 2024, when worth was $0.53.
At present, regardless of buying and selling ~4× increased ($2.15), 41.5% of provide (~26.5B XRP) sits in loss — a transparent signal of a top-heavy and structurally fragile market dominated by late patrons.
📉… https://t.co/CBXPzDalxV pic.twitter.com/UpLNKV7LqD
— glassnode (@glassnode) November 17, 2025
Nicely, XRP whales contributed considerably to the current worth drop. Reviews point out whales offered round 200 million XRP inside 48 hours of the ETF launch.
In the meantime, analysts say it could take till 2026 for institutional flows to indicate up, which implies subsequent 12 months is when the impression of the XRP ETF can actually be felt on the Ripple worth.
Why is XRP dropping even after ETF launches?
As a result of the market misunderstood the play.
Retail:
Thought ETFs would immediately FOMO into XRP → rushed in early → heavy hypothesis.
Establishments:
• Launch ETF
• APs ship money
• Issuers purchase XRP slowly, on dips
• Accumulate… pic.twitter.com/sWPuaxyphr
— BD (@DiepSanh) November 17, 2025
