XRP fell to $1.07 as ETF flows hit zero for four days
XRP dropped to $1.07, its lowest price since August, leaving the $1 support 9.9% away.
The short version
- Spot XRP ETFs posted zero net flows for four straight days while institutional buying vanished.
- XRP lost 11.5% over the past week as Bitcoin dropped 3%.
XRP sank to $1.07, its lowest since August, as spot ETFs posted zero net flows for four straight days and institutional buying vanished. XRP lost 12% in a week while Bitcoin dropped 3%, Ethereum 6% and Solana 7%, pointing to weakness specific to XRP.
Buyers defended $1 in June and August, but without a catalyst like August's White House summit, a third hold looks uncertain. XRP trades at $1.11 as of November 9, down 4.4% in the last 24 hours, 11.5% over the past week, and 20.7% over the last month.
That leaves the coin 69.6% below its all-time high of $3.65. Spot XRP ETFs, funds that hold XRP and trade on stock exchanges, reported zero net flows on November 3, 4, 5, and 6. That lack of institutional buying left sellers with less resistance.
Meanwhile, Ripple, the company behind XRP, is growing in areas that don't depend on XRP. Token Terminal posted on X on November 9 that Ripple's stablecoin market cap rose by $229 million over the past month. At the same time, tokenized credit funds on the XRP Ledger fell by $207 million.
XRP is trading below all its major moving averages, including the 20-day average of $1.27 and the 50-day average of $1.37. Bitrue Research Institute counted 18 daily RSI readings below 35 on XRP since January 2023, and XRP traded higher three months later in 12 of the 17 cases with a full three-month window. The median gain after those readings was 9.1%, against 3% for all days, according to Yahoo Finance.
Figures as reported by Yahoo Finance.
