XRP Nosedives to $1.04, Analysts Maintain Target Price
Ripple (XRP) declined to $1.04 in 24 hours, while Bitcoin is slightly up and the broader market is nearly flat, suggesting XRP is underperforming rather than simply tracking market beta.
The decline most closely matches XRP-specific selling amid a weak multiweek trend; no single fresh catalyst is confirmed.
The current price reflects persistent XRP-specific selling, with the token already down 20.40% over seven days. Traders said negative sentiment around former Ripple CTO David Schwartz’s XRP holdings and reports of weak XRP ETF demand may be weighing on confidence.
XRP’s 24-hour decline is larger than Bitcoin’s small gain, while total crypto market value changed little. That points to relative weakness in XRP, amid a steep seven-day drop, rather than a broad market sell-off.
XRP is also below its 7-day and 30-day moving averages of $1.05 and $1.06, respectively, confirming weak short-term structure. Selling pressure appears concentrated in XRP, but the available data does not identify a single cause for today’s dip.
On November 11, coverage highlighted David Schwartz saying he had not bought XRP in years and reports of a week without inflows to U.S. spot XRP ETFs.
These may have added to cautious sentiment, but neither proves the cause of the current 24-hour move.
If XRP holds above $1.03 and reclaims $1.10, it could attempt a recovery; a break below $1.03 risks renewed pressure toward the $1.00 demand area flagged in technical coverage.
A shift from reported ETF outflows toward inflows would strengthen the recovery case. The near-term bias remains weak unless XRP regains nearby resistance.
Technical traders said they are monitoring whether XRP holds $1.03 and whether ETF flows turn positive. XRP is lagging a nearly flat market, with its broader downtrend and possible confidence-related headwinds contributing to weakness; no single immediate catalyst is established.
Sell pressure persisted as investors’ sentiment remained downbeat, keeping XRP price movement restricted from making a significant upside. According to SoSoValue data, yesterday spot $XRP ETFs saw a net outflow of $10.4216 million.
Bitwise XRP ETF ($XRP) had the largest net outflow, at $9.3972 million, and currently has a historical total net inflow of $672 million; Canary XRP ETF (XRPC) had a net outflow of $811.4 thousand, and currently has a historical total net inflow of $484 million.
As of publication, the total net asset value of spot XRP ETFs was $1.238 billion, the XRP net asset ratio was 1.78%, and cumulative historical net inflow reached $1.798 billion.
Flare co-founder Hugo Philion said $XRP’s value and long-term narrative should not be tied solely to Ripple, challenging holders with three questions: what they are doing to put XRP to work, how to show its value to potential investors, and what steps turn it from a speculative holding into usable capital.
Philion pointed to Flare as a way to expand XRP utility and separate the token’s prospects from Ripple’s corporate decisions. XRP has fallen about 51% over the past year and traded around $1.10 at the time of the report.
Separately, technical analyst Dark Defender reiterated his $10 XRP prediction, saying, “Nothing has changed in the structure”, and citing $1.21 and $1.12 as support levels identified on Oct. 25.
His Elliott Wave chart targets $10.1101; reaching $10 from $1.10 would require about an 809% rally. With roughly 63.52 billion XRP circulating, a $10 valuation implies a market cap near $635.2 billion (about $642.2 billion at $10.1101) XRP Price Falls 5% on ETF Outflow, Inflation Concerns
