XRP slides to $1.08 after $1 billion liquidation wave

What happened

XRP traded near $1.08 on Monday after a broad crypto selloff forced roughly $1 billion in leveraged positions to close, according to Crypto Daily and Bitcoin.com News. The token touched $1.10 late Sunday and then eased to $1.08, its lowest level since August. Bitcoin.com News put the 24-hour decline at about 6.7% and the market capitalization at roughly $70 billion. Crypto Daily said XRP lost about 6% on the day and fell harder than Bitcoin, which reached a multi-month low of $73,500 on Nov. 9, and Ether, which came close to $2,000.

The forced selling hit traders who had bet on a rebound, Crypto Daily reported, and losses spread across major coins. Total crypto market value dropped to about $2.56 trillion, down nearly 2%, while spot trading volume rose about 28% to near $26.8 billion. The outlet described the volume increase as a sign that sellers were rushing to exit. Bitcoin.com News said the liquidation total topped $1 billion during Sunday's marketwide flush.

The move extended a steady decline. Bitcoin.com News reported that XRP fell from around $1.55 in early October to near $1.17 by Nov. 7, while open interest dropped 12.36%. A close below $1.2355 on the four-hour chart confirmed a breakdown, the report said, leaving resistance at the 21-day and 55-day exponential moving averages of $1.2578 and $1.2703. Crypto Daily noted that the token sat below its 50-day average near $1.30 and its 200-day average around $1.35.

Analyst Casitrades had identified $1.10 as a level where the decline might pause, but said momentum could produce another test of $1.10 and potentially push lower, with $1.00 or $0.90 in view, according to Bitcoin.com News. Chartist Ali Martinez had argued on Sunday that holding $1.14 could send XRP back toward $1.30; the token broke that level within hours.

Why it matters

XRP's slide matters because a source of demand that might have cushioned the drop has been absent. Bitcoin.com News reported that spot XRP ETFs recorded zero net flows from Nov. 3 to Nov. 6, and that October inflows fell to $18.8 million from $121.4 million in September. The funds' net assets stood at $1.34 billion, or 1.82% of XRP's market capitalization. Crypto Daily said no institutional bid was there to absorb the selling. The drop also puts the $1 psychological level in focus, with prediction-market traders split on whether it will be reached this month.

What the data shows

Momentum readings show heavy selling. Bitcoin.com News cited a 14-day relative strength index near 28, with one trader's chart as low as 24, while Crypto Daily put the daily RSI at about 26. Readings below 30 are treated as oversold. Crypto Daily also said the MACD remained below its signal line and that trend strength showed a fresh move led by sellers. On the chart, the nearest floor sits around $0.99, just under the dollar mark, with the first upside cap near $1.20 and another around $1.31. Santiment has been tracking a call for XRP to reach about $0.99 that resolves on Nov. 19 and is invalidated by a close above $1.36, Bitcoin.com News reported. Among the most profitable XRP wallets Santiment follows, only one was long as of Nov. 6, while three active shorts had added about 2.1 million XRP since late October. Wallets holding at least 1 million XRP reached 2,147 last week, the highest count of 2026, and Santiment reported last month that whales controlled 68.5% of the token's supply.

Background

XRP remains far below its previous peak. Bitcoin.com News noted that the token is about 70% below its $3.66 record from July last year, and that its market value has shrunk from about $210 billion at that time. The token also dipped below $1 in mid-August for the first time in nearly two years before rebounding. Corporate developments have not provided much lift: Brazil's central bank lists Ripple's local unit as under review for a virtual asset license, an early step that confers no authorization, and when Ripple secured final approval for a national trust bank last month, the token stayed between $1.29 and $1.31. Ripple CEO Brad Garlinghouse reaffirmed XRP as the company's north star, linking RLUSD expansion and business integration to greater liquidity.

What to watch

The dollar area is the immediate test. Crypto Daily reported that a break below the $0.99 floor could leave XRP searching for buyers, and that stop orders below $1 could trigger another round of forced selling. On the upside, a move through $1.20 would be the first step, while a push past $1.31 would erase most of the damage from the liquidation wave. The bigger risk sits outside the token: another leverage flush in Bitcoin could drag XRP through its last nearby floor within hours, the outlet said.

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