The Crypto Desk desk. Editor: Sam Daodu.
XRP (CRYPTO: XRP) has recently dropped below $1, now trading around $0.96, down 6.3% in just 24 hours. Over the past month, $1 has been a strong support level for XRP, with the lowest daily close at about $1.01.
However, that support has quickly crumbled. XRP reached a high of $1.04 at 13:00 UTC on November 13, 2026, but fell sharply to about $0.956.
The broader view looks grimmer. XRP is down 28% over the past 30 days and 47.9% this year, trading 73.7% below its all-time high of $3.65, achieved in July 2025. So, what’s causing XRP to fall below $1, and what are the main factors driving this decline?
Bitcoin’s Decline and Rate Hike Fears Are Fueling XRP’s Drop
The primary factor impacting XRP is the fall in Bitcoin (CRYPTO: BTC) prices. Currently, Bitcoin trades at $65,906, down 4.3% within the last 24 hours and below its November 13 low of $67,555. When Bitcoin’s price drops, traders often sell off their riskier assets first, and XRP typically ranks near the top of that list, a pattern we covered in why XRP drops every time Bitcoin drops.
Rate hike expectations are another significant factor. Fed funds futures indicate an 88.7% chance of a quarter-point rate increase during the Federal Reserve’s meeting on December 9. Higher interest rates make borrowing pricier, which can divert investments away from assets like XRP that don’t generate income.
Bond yields also point in the same direction. The 10-year Treasury yield, which represents the annual return on a U.S. government bond with negligible default risk, stood at 5.15% on November 13. This creates tough competition for a token like XRP, which offers no yield.
Liquidations and ETF Outflows Accelerate the Decline
Beyond external market influences, forced liquidations exacerbated the drop. Data from CoinGlass showed that $1.23 billion in leveraged cryptocurrency positions were liquidated within just 24 hours, with over $1 billion stemming from long positions, those that profit when prices go up. Liquidations happen when exchanges close borrowed positions because losses exceed the trader’s collateral.
These forced sell-offs flood the market with more coins, driving prices down further as they approach other traders’ liquidation levels. However, once the over-leveraged longs are flushed out, the additional selling must come from holders who choose to sell, which tends to slow the decline.
As for fund flows, U.S. spot XRP funds, exchange-traded products directly holding the coin, saw $19.1 million in net outflows from November 9 to 13. Although this amount is relatively small compared to the liquidations, it signals that fund investors are also pulling back. Every factor we could document is market-wide, and we found no direct news related to Ripple behind the drop.
XRP Is Declining Faster Than Bitcoin Across Timeframes
XRP has consistently dropped more than Bitcoin in recent sell-offs. Over a seven-day period, XRP has lost 17.4%, while Bitcoin dipped only 13%. In the last 30 days, XRP fell 28%, compared with Bitcoin’s 20.5% loss. Moreover, since the start of the year, XRP is down 47.9%, compared to Bitcoin’s 24.7% reduction. Our earlier analysis revealed how XRP fell more than any other major coin, underscoring this trend.
Smaller coins tend to suffer larger declines during market sell-offs. XRP’s thinner order books mean there are fewer buy orders at various price points, making it easier for selling pressure to drive prices down. Additionally, leveraged traders often flock to altcoins to chase higher returns, which can intensify price drops when their positions are liquidated.
The current market setup indicates that sellers are in control. A simple moving average (SMA) measures the average closing price over a set period. Currently, XRP’s 20-day average is $1.20, 25.1% above its current price. Its 50-day average is $1.33, and its 200-day average is $1.26, signaling a downward trend across short-, medium-, and long-term timeframes.
Trading volumes support this breakdown. Trading volume surged to about 13 million, nearly five times the approximately 2.6 million traded during the quieter 12:00 UTC hour.
XRP Crash FAQ
Why Is XRP Down So Much?
XRP has dipped 28% over the past month because of Bitcoin’s decline, rising Fed rate-hike expectations, and forced liquidation of leveraged positions. Historically, XRP tends to decline more than Bitcoin during downturns.
Will XRP Go Back Up?
It’s possible, but a recovery likely depends on Bitcoin stabilizing and rate-hike fears easing. A daily close above $1.04 could be the first sign of recovery.
Is XRP Dead?
No, XRP remains the sixth-largest cryptocurrency by market cap and has increased 47.7% over the past three years, despite the current selloff. Our look at how long XRP takes to recover from a crash covers past rebounds.
Can XRP Recover Above $1 Before the December 9 Fed Meeting?
XRP is currently priced below $1 due to Bitcoin’s decline, the threat of a rate hike, and a 5.15% yield on 10-year Treasuries making safer assets more appealing. We consider a quick rebound above $1 unlikely if Bitcoin and rate expectations continue to push in the same direction. However, much of the selling pressure hinges on an impending Fed hike that hasn’t yet occurred.
Contact [email protected] for any questions or corrections.
Sam Daodu is a crypto analyst and the editor of 24/7 Wall St.'s Crypto Desk, where he covers Bitcoin, XRP, Ethereum, Solana and the altcoins investors search for most. His work focuses on price levels, spot ETF flows, on-chain data and the regulatory decisions that move crypto markets, written so a first-time buyer and a seasoned trader can both use it.
Sam has written about crypto professionally since 2019 and has published more than 2,000 articles. Before joining 24/7 Wall St., he wrote for crypto media outlets and Web3 companies and ghostwrote for crypto founders and token launches. His analysis is syndicated on Yahoo Finance, MSN and AOL and has been cited by other crypto news sites. He also founded MacLabs Marketing, a content and personal branding agency for crypto founders and executives.
When he isn't reading charts, Sam is usually at the gym or watching One Piece, a series he maintains has better tokenomics than most altcoins.
