XRP hit $0.89, down about 36% in the fourth quarter and roughly 75% below its July 2025 peak above $3.60. U.S. spot XRP ETFs saw $19.13M in net outflows in the week of Nov. 9-13, and USDT plus USDC market cap fell to $244B.
XRP Slides to 89 Cents, Lowest Since November 2024, as Capital Exits Crypto Markets
A shrinking supply means less money waiting to buy
Mark
XRP at 89 cents sounds like a headline about one token. Is it?
Mimi
Not really. Bitcoin and Ether fell too, and total crypto value lost about $110 billion in two days. The report says it wasn't tied to any Ripple disclosure.
Mark
What's the money actually doing?
Mimi
Leaving through a couple of doors. The XRP ETFs saw $19.13 million in net outflows in the week of Nov. 9 to 13, and the USDT and USDC supply has shrunk to $244 billion from a peak near $270 billion.
Luke
Keep the scale in mind, though. $19.13 million is the biggest weekly redemption since March, but it's small next to a $1.5 to $1.79 billion cumulative inflow. It's a signal, not proof it's the cause.
Mark
And the stablecoin shrinkage?
Mimi
Stablecoins are the dry powder for buyers, so less of them means less buying capacity. Glassnode called the $17 billion monthly drop the steepest since 2022.
Luke
Note the numbers differ by source. Coinbase Institutional says $11.5 billion over 30 days across USDT, USDC and DAI, Glassnode says $17 billion. Different measures, and Glassnode's explanation that holders are swapping into fiat is their reading, not a confirmed cause.
Mark
What about the Fed angle?
Mimi
Strong inflation data has hardened expectations for tight policy, which makes interest-bearing assets more attractive.
Luke
That's the market-report framing. We don't know how much of this drop it explains versus the leverage unwinding, where 97% of the $27 million liquidated was longs.
Mark
What should a reader watch?
Mimi
Whether buyers hold $0.94 to $0.95. Below that, $0.90 and possibly $0.85 come into play.
The Pulse
- XRP fell to $0.89 on Nov. 15, lowest since Nov. 2024
- Down about 36% in Q4 and roughly 75% from July 2025 peak above $3.60
- U.S. spot XRP ETFs: $19.13M net outflow, Nov. 9-13
- USDT plus USDC market cap at $244B, lowest since Sept. 2025
- About $27M XRP derivatives liquidated in 24 hours, 97% longs
XRP hit $0.89, down about 36% in the fourth quarter and roughly 75% below its July 2025 peak above $3.60. U.S. spot XRP ETFs saw $19.13M in net outflows in the week of Nov. 9-13, and USDT plus USDC market cap fell to $244B.
XRP fell to 89 cents on Nov. 15, its lowest since November 2024, as ETF outflows, shrinking stablecoin supply and a hawkish Fed outlook drove a broad crypto selloff.
XRP touched 89 cents on Nov. 15, its lowest price since November 2024. The token has dropped about 36% in the fourth quarter alone, and it now sits roughly 75% below its July 2025 peak, when it traded above $3.60.
The slide did not happen in isolation. Bitcoin slipped toward the $64,000 to $65,000 range and Ether traded near $1,800, both returning to levels last seen in August, according to CoinMarketCap. After bitcoin broke below $67,000 over the weekend, total crypto market value shed roughly $110 billion in two days and fell to about $2.33 trillion. The selloff has been market-wide rather than tied to any single disclosure from Ripple.
Leverage made the move sharper. CoinGlass figures showed roughly $27 million of XRP derivatives positions liquidated over 24 hours, with long bets making up about 97% of the total. Earlier, 883 XRP-backed loan liquidations on the Morpho lending protocol led to 4.18 million cbXRP being seized, an example of how forced selling can feed on itself once prices fall.
The most visible source of selling pressure has been the U.S.-listed spot XRP exchange-traded funds. SoSoValue data showed a net withdrawal of $19.13 million in the week of Nov. 9 to 13, the largest weekly redemption since March 2026. Cumulative net inflows since the products launched last November stand at roughly $1.5 billion to $1.79 billion. That is a modest sum beside the several billion dollars attracted by bitcoin and ether ETFs, which have also seen redemptions recently.
Liquidity is draining through another channel too. The combined market value of the two largest dollar-pegged stablecoins, USDT and USDC, has fallen to $244 billion, the lowest since September 2025. It peaked near $270 billion in early May and has slid almost in a straight line over the past seven weeks. Coinbase Institutional put the 30-day contraction across USDT, USDC and DAI at $11.5 billion. Analysts at Glassnode said stablecoin supply fell by $17 billion over the last month, the steepest drop since 2022, adding that as holders swap stablecoins for fiat they drain buying power from bitcoin and the wider market.
Stablecoins are the preferred vehicle for funding crypto purchases and cross-border transfers, so a shrinking supply means less money waiting to buy. The macro backdrop has reinforced the retreat: stronger-than-expected U.S. inflation data has hardened expectations that the Federal Reserve will keep policy tight, making speculative assets less appealing next to interest-bearing alternatives.
Traders are now watching whether buyers can defend the $0.94 to $0.95 band. A sustained break below $0.94 would expose the $0.90 psychological threshold, and a deeper market-wide correction could bring $0.85 into view. Reclaiming $0.98 would offer an initial sign of stabilization, though XRP would need to recover $1 before the near-term bearish picture improves meaningfully.
The weakness contrasts with Ripple's continued banking expansion, which has proceeded despite the token's fall. The episode shows how quickly ETF flows and stablecoin liquidity can reverse the demand picture for large altcoins, and how leveraged positions amplify moves in either direction.
Notable Quotes
Stablecoin supply is shrinking fast. It fell by $17B over the last month, the steepest drop since 2022.— Glassnode analysts
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