XRP is among the weakest large coins as the market slides. Crypto Insiders’ Monday update showed XRP at about $1.09, down 6.4% in 24 hours, against a 2.2% decline for bitcoin. CoinDesk’s page showed XRP at $1.09 and Bitcoin.com News noted it slipped below $1.10.
The slide did not start on Sunday. BiGGo Finance reported that XRP fell more than 9.5% in 24 hours on November 6 to below $1.185, its lowest since August 22, after a rally to $1.35 failed. A CryptoTicker analysis from November 8 put the next supports at $1.11, the August lows near $1.0875 and then $0.985, with resistance at $1.21. XRP is therefore trading close to its August lows.
Several drivers have been cited. According to CryptoTicker, U.S. spot XRP ETFs recorded no net inflows from November 2 to 6, citing SoSoValue data. Social sentiment is at its lowest since July, per analyst Ali Martinez. Exchange data pointed to tightening supply, with CryptoQuant’s Binance scarcity index at 2.1 and about 418.5 million XRP leaving Binance on November 4, though a CryptoQuant analyst warned part of that may be internal wallet transfers.
The wider backdrop includes more than $1 billion in liquidations and a roughly 9% bitcoin decline from Wednesday’s high. Whales have kept buying, but none of this is investment advice.
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Sources:
Crypto Insiders: Marktupdate, Bitcoin zakt naar laagste punt in ruim twee maanden
CryptoTicker: XRP price prediction, Binance scarcity before a weak close
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