XRP STRUGGLES TO RECOVER, DROPS TO 6-WEEK LOW NEAR $2.12
XRP slid to a six-week low of $2.12 as traders booked profits and activity cooled before key ETF launches.
XRP Price Update: Trading Cools Amid Profit-Taking
XRP is currently trading at $2.13, down 1% over the past 24 hours. The token has remained stuck in a $2.12–$2.50 range over the last week and is now 41% below its $3.65 all-time high reached in July.
Trading activity continues to slow. XRP’s daily volume has dropped to $4.77 billion, down about 29% from the previous day. Derivatives markets show a similar trend: futures volume is down 26% to $6.5 billion, and open interest has slightly declined to $3.71 billion after a 0.80% drop.
This indicates that traders are closing positions and exercising caution rather than adding new exposure.
XRP Faces Pressure as Supply in Profit Drops to 1-Year Low
On-chain data highlights growing stress in the XRP market. According to a Nov. 18 report by Santiment on X, the share of XRP supply in profit has fallen to 58.5%, the lowest level in a year.
ZILLIQA (ZIL) NETWORK UPGRADE AND HARD FORK RECEIVE OFFICIAL BACKING FROM BINANCE
Despite trading at around $2.13, roughly four times last year’s price near $0.53, about 41.5% of tokens (≈26.5 billion XRP) are currently held at a loss. This creates a fragile market structure, as large groups of underwater holders may sell during any short-term bounce to cut losses.
Combined with falling trading volume, this makes XRP more sensitive to sudden price swings and could make establishing a stable recovery more difficult.
XRP Price: Short-Term Catalysts Driving Market Sentiment
Despite the recent pullback, several near-term catalysts continue to influence XRP’s price and overall market sentiment. One of the main drivers is the launch of spot XRP ETFs, which has generated strong institutional interest. Canary Capital’s XRP ETF, which went live on November 13, recorded $58 million in first-day trading volume, signaling significant appetite from institutional investors.
Even with these positive developments, XRP’s price experienced some weakness as large holders took profits, reflecting caution amid the broader market slowdown. Traders are watching closely for the Bitwise XRP ETF, which is expected to begin trading on November 20. Analysts believe that a successful launch could attract further inflows, potentially providing support to XRP’s price in the short term.
ETHEREUM AND CARDANO PRICES CLIMB WHILE BLOCKDAG PRESALE SURPASSES $435M AFTER MAJOR LEAK
Additionally, macroeconomic factors may play a role. The end of the recent U.S. government shutdown is expected to restore liquidity to risk assets, creating a more favorable environment for cryptocurrencies. Combined with the ETF developments, these factors could help stabilize XRP and improve market confidence, at least temporarily.
Overall, while short-term pressures remain, the combination of institutional ETF interest and improving liquidity conditions provides potential catalysts that could influence XRP’s price in the coming days.
XRP Price Technical Analysis: Key Levels and Market Outlook
XRP has been losing strength after repeatedly failing to hold above the $2.56 resistance level. Between August and mid-September, the price formed a symmetrical triangle pattern, characterized by lower highs and higher lows. This pattern typically signals a period of consolidation before a potential breakout. While XRP attempted a rally, the move quickly lost momentum, highlighting that buyers struggled to maintain control. The repeated sequence of shrinking highs in late September, mid-October, and early November underscores the weakening bullish pressure.
The cryptocurrency recently hit a six-week low near $2.12, which now serves as a critical support level. All major moving averages, from the 10-day to the 200-day, indicate a selling trend, while the Relative Strength Index (RSI) sits at 38, suggesting neutral momentum rather than strong bullish or bearish pressure.
From a short-term perspective, XRP would need to rebound above $2.30 and then surpass $2.56 to improve the market outlook. A successful move above these levels could open the door toward $2.80–$3.00, assuming buying demand returns. On the downside, a failure to hold $2.12 would put $1.80 at risk. If selling intensifies further, XRP could revisit the $1.60 support zone, where buyers previously stepped in to stabilize the market.
Traders should closely monitor these key levels and patterns, as volume trends and moving averages suggest that XRP remains in a fragile market structure, vulnerable to sudden swings. The symmetrical triangle pattern also implies that a significant move could be imminent, with the direction depending on whether bulls can regain control or bears continue to dominate.
