XRP slid to $2.12, hitting a six-week low as trading activity cooled and profit-taking weighed on the market ahead of key exchange-traded fund launches.
Summary
- XRP hits a six-week low near $2.12 as buying interest fades.
- On-chain data shows 41.5% of tokens held at a loss, adding pressure on recovery.
- Upcoming XRP ETFs and $2.56 resistance remain key factors for near-term price direction.
XRP is trading at $2.13, down 1% in the last 24 hours. The token has been stuck in a $2.12-$2.50 range over the last week and is now down 41% below its $3.65 all-time high from July.
Trading activity continues to cool. XRP’s (XRP) daily volume has dropped to $4.77 billion, about 29% lower than the previous day. Derivatives markets follow the same pattern. Futures volume is down 26% to $6.5 billion, and open interest is slightly lower at $3.71 billion after a 0.80% decline.
This shows that traders are closing positions and staying cautious instead of adding new exposure.
Pressure from falling supply in profit
One of the clearest stress signals is coming from on-chain data. According to a Nov. 18 post on X by Santiment, the share of XRP supply in profit has dropped to 58.5%, the lowest level in a year.
The interesting part is that XRP is still trading at about four times last year’s price near $0.53, yet about 41.5% of tokens, or roughly 26.5 billion XRP, are held at a loss.
This usually leads to a heavy market structure. It will be more difficult for XRP to establish a stable recovery if large cohorts of underwater holders sell on any bounce to minimize losses. Combined with falling volume, the market feels fragile and more sensitive to sudden price swings.
XRP price short-term catalysts
Despite the recent pullback, several near-term catalysts continue to shape sentiment. The launch of spot XRP ETFs has pulled strong interest from institutions. Canary Capital’s XRP ETF, which launched on Nov. 13, recorded 58 million dollars in first-day volume.
Even with this strong start, XRP’s price softened as large holders took profits during a weak market. The next key event is the Bitwise XRP ETF, which could begin trading on Nov. 20. Analysts expect more inflows if it launches on schedule.
The end of the recent US government shutdown could also help liquidity return to risk assets at a time when ETFs are gaining attention.
XRP price technical analysis
XRP has been losing strength after failing to stay above the $2.56 resistance level. A symmetrical triangle pattern formed between August and mid-September. Price kept pushing into a tighter range with lower highs and higher lows, which usually signals a buildup before a move.
Eventually, XRP started to rise, but the rally quickly stalled and lacked the strength to establish a new trend. The chart displayed a string of lower highs in late September, mid-October, and early November following that unsuccessful breakout. This repeated pattern of highs shrinking over time often shows a market where buyers are losing control.
Price recently touched a six-week low near $2.12, which is now a key support to watch. All major moving averages from the 10-day to the 200-day point to a selling trend. The relative strength index is at 38, which is neutral.
A move back above $2.30, followed by a break above $2.56, would improve the short-term outlook. That could open a path toward the $2.80 to $3.00 area if demand returns. Failure to hold $2.12 puts $1.80 at risk. If selling grows stronger, price could revisit the $1.60 zone where buyers previously stepped in.
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