XRP traded near $1.10 on Monday, marking its lowest level in months as a broad cryptocurrency selloff deepened. The token fell about 5.5% in 24 hours and roughly 11% over the past week, according to market data.
The decline comes as US spot XRP exchange-traded funds recorded no positive net inflows last week, with a modest outflow of $529,500 from Canary Capital's XRPC fund on November 2. The following four sessions saw zero net flows, indicating balanced creations and redemptions rather than a halt in trading.
October brought approximately $18.8 million in inflows, sharply below September's $121.4 million. Cumulative inflows still stand near $1.81 billion, while total fund assets are about $1.34 billion, reflecting the impact of falling token prices.
Whale accumulation counters weak fund demand
Despite the ETF slowdown, independent analyst Ali Martinez cited Santiment data showing that large wallets added more than 16.46 million XRP over five days as the price dropped from $1.34 to $1.15. "Price is falling. Whales are buying," he wrote on X.
This apparent accumulation offers a counterweight to weak fund demand. However, wallet balances cannot reliably establish holders' identities or distinguish purchases from transfers between addresses.
CryptoQuant analyst Darkfost reported that 418.5 million XRP left Binance on November 4, its largest daily withdrawal in nine months. Such movements "do not guarantee an upward move," he noted, as internal transfers could be involved.
Leveraged traders retreat as liquidations mount
XRP's slide followed a wider crypto and technology selloff, with Bitcoin falling towards $74,000 amid doubts about AI spending and possible US regulation. The token broke below $1.20 and several key moving averages, leaving leveraged bullish traders exposed.
One early Monday snapshot put XRP derivatives liquidations at $23.64 million over 24 hours, with roughly 97% involving long positions. Futures open interest also declined, indicating reduced leveraged exposure. Liquidations can reinforce falling prices as exchanges automatically close positions when traders lack sufficient collateral.
Key support levels to watch
The immediate test is the $1.10 area, which XRP approached after losing former support around $1.14 to $1.16. Those earlier levels could now limit any rebound. A sustained break below $1.10 would bring $1.05 to $1.06 into view, followed by the psychological $1 threshold.
Some technical assessments identify another possible downside level around $0.98. Independent commentator Celal Kucuker said XRP "could test $1.10–$1.05 before reversing," according to CryptoFrontNews. His much higher longer-term target depends on a trendline breakout and remains speculative.
For a convincing recovery, buyers would first need to reclaim approximately $1.15 to $1.16, then challenge $1.20 to $1.22. The combination of stalled ETF inflows, shrinking leveraged positions and reported whale buying leaves the outlook unsettled. Holding $1.10 could encourage bargain hunting, but another breakdown would make the $1 level harder to ignore.
This article is for informational purposes only and does not constitute financial advice.
