XRP Tanks, Price Drops by 6% to $1.22 as Buyers Turn to Sellers
Ripple (XRP) price tanked 6% to $1.22, slightly underperforming a falling broader market and driven primarily by a market-wide risk-off move.
This reflected a broader market decline, with Bitcoin down 5.21% and total crypto market cap falling 4.66%, dragging XRP lower in a correlated drop.
The number of wallets holding at least 1 million XRP hit a 2026 record of 2,147, up 28 large wallets in just 10 days, according to Santiment data. Concurrently, exchange outflows spiked, and large holders collectively added roughly 60 million XRP over the past week.
The entire crypto market fell sharply, with Bitcoin dropping 5.21% to $75,948.49. The total crypto market cap declined 4.66% to $2.55 trillion. XRP’s -5.70% move closely tracks this beta-driven sell-off, amplified by a Fear & Greed Index reading of 33.
XRP didn’t fall because of a coin-specific negative event; it was caught in a broader liquidation and risk-aversion wave affecting crypto assets.
Before the drop, XRP broke above a 4-hour descending channel, reaching about $1.34. This level aligned with the 38.2% Fibonacci retracement resistance at $1.40 and a strong bearish order block, leading to a rejection.
The failed breakout turned recent buyers into sellers, adding to the downward momentum initiated by the market decline. A reclaim of the $1.33 (61.8% Fib) level, which would signal buyer strength returning.
The immediate trigger to watch is the trend in U.S. spot XRP ETF flows, which saw outflows of over $500,000 on November 2. The key support is the $1.25 level, which has held as a demand zone since August.
If XRP holds above $1.25, a relief rally toward $1.33 is possible. A decisive break below $1.25 invalidates the recent base and exposes the next significant support zone between $1.10 and $1.20.
The near-term bias is neutral-to-bearish, contingent on holding a critical price floor. The next weekly ETF flow data. Sustained inflows above $15 million would be a positive shift in crypto institutional demand.
XRP’s decline is driven primarily by a weak macro backdrop for crypto, compounded by its failure to overcome technical resistance. The coin needs to hold its multi-month support to avoid a deeper correction. Apple Tops Nvidia as AI Spending Concerns Reshape Sentiment
