XRP Slides Under $1 to a Two-Year Low as Crypto Liquidity Drains

XRP has dropped to its lowest level since November 2024, extending a broad crypto sell-off in which money is leaving both exchange-traded funds and the stablecoin pool that normally fuels buying. For traders, the move matters because the psychologically important $1 mark has now been lost, and the usual sources of fresh demand are weakening at the same time.

Key takeaways

• XRP broke below its August low and the $1 level, reaching its weakest point in about two years.
• U.S. spot XRP ETFs have seen no net inflow since 29 October and roughly $18.6 million of net outflows so far in November.
• Glassnode reported the fastest 30-day stablecoin supply contraction since June 2022.
• The weakness is market-wide, with Bitcoin, Ether and Solana also sharply lower today.

What happened to XRP

Reports from 14 November show XRP slipped under $1 late on Friday in U.S. time. It fell as low as $0.98336 on Bitstamp, breaking its August low and reaching its weakest level since November 2024. To find a lower daily low, one has to go back to mid-November 2024, just before XRP's post-election rally.

The slide has been steady rather than sudden. XRP closed lower for nine straight days from 5 to 13 November, and forced liquidations likely sped up the drop below old lows. Analysts reported over $330 million in liquidations in two hours as bitcoin fell under $67,000 and XRP dropped under $1.00.

Since then, the decline has deepened. According to our live data, XRP was trading around 0.95 at 02:53 UTC on 15 November, down 5.54% on the day, within a range of 0.894209 to 1.003000.

Why money is leaving crypto

Two flows are in focus. The first is ETF demand. XRP ETF funds have not posted a net inflow since 29 October but have instead seen about $18.6 million in net outflows in November. That is small against the long-term picture, since cumulative net inflows since launch remain around $1.79 billion, but it shows institutional buyers are not stepping in on the dip.

The second is stablecoins, the dollar-pegged tokens traders use to buy crypto. Total stablecoin supply fell by $14.2 billion over the 30 days through 9 November, the fastest contraction since June 2022, according to Glassnode. When supply shrinks, holders are redeeming tokens for dollars and taking that money out of crypto, leaving less fuel for a rally. The firm said a return to supply growth would be the first sign that fresh money is coming in.

Bitcoin funds tell a similar story. U.S. spot Bitcoin ETFs recorded approximately $1.065 billion in net outflows during the 9 to 13 November trading week, according to Farside Investors. Some coverage also links the pressure to rising expectations of a Fed rate hike, which adds a macro layer to the crypto-specific picture.

Market reaction across majors

XRP is not alone. The table shows moves over the past day from our live snapshot at 02:53 UTC.

Bitcoin's day range ran from 62,081.00 to 67,662.00, a wide swing that shows how unsettled conditions are.

What to watch next

• ETF flows: a sustained return to net inflows would signal institutions are buying again, while continued outflows suggest demand remains thin.
• Stablecoin supply: Glassnode treats renewed growth as an early sign of fresh capital. Further shrinkage would suggest liquidity is still draining.
• The $1 area: traders often watch round numbers. Whether XRP can reclaim and hold it will show if sellers are losing momentum.
• Leverage: forced liquidations can accelerate moves in both directions, so sudden spikes in volatility remain possible.

Crypto markets are highly volatile and this article is for education only, not investment advice.