If you're holding XRP and wondering why it's bleeding while the other big coins mostly aren't, the answer is who's on the other side of the trade. Right now, nobody with a fund mandate is.

XRP fell 7.1% over the week to $1.16, according to 24/7 Wall St., making it the weakest of the five largest cryptocurrencies. Ethereum slipped just 0.8% to $2,233 over the same stretch, Solana lost 6.5%, Bitcoin gave up 2.3% to around $75,720, and BNB dropped 1.4%.

That ETH figure is lower than the $2,400 some coverage has been quoting, so check the live price before you act on any of this. The gap between the two coins is the point, though, and it hasn't closed.

The trigger was a stock market rout, not anything XRP did. CryptoTicker reported on November 6 that the Nasdaq Composite fell 5.52% the day before and the semiconductor index dropped more than 12%, and crypto followed as a risk asset. XRP lost 8.3% in 24 hours and landed at $1.20, its lowest since August 20, after breaking below its 200-day average at $1.27.

Plenty of coins fell that day. What set XRP apart is what happened next. According to 24/7 Wall St., US spot XRP ETFs took in $530,000 less than they paid out on November 2, then recorded zero net flows from November 3 through November 6. Four straight days with no buyer showing up.

Franklin Templeton's XRP fund alone pulled in $28.6 million last week, helping XRP ETFs post $70 million in inflows while Bitcoin funds lost $443 million following the October 10 crash, per CoinShares. - XRP ETF inflows while Bitcoin funds bleed out - why investors are buying XRP exchange traded funds

When no fund is buying, the price is set by whoever is trading on exchanges, and that crowd was selling. CryptoTicker's figures put the funds' total haul at $1.81 billion since launch, with $1.41 billion in assets under management. That's real money, but it has stopped arriving at the moment it was needed. 24/7 Wall St. had already flagged in October that the funds ended a 13-week inflow streak, so this isn't a sudden reversal so much as a trend that finally ran out.

Is Ethereum really any safer?

Not as much as the price suggests. Ethereum's ETFs lost $365.3 million over the week, according to 24/7 Wall St., with BlackRock's iShares Ethereum Trust shedding $90.8 million on November 6 alone. The only inflow of note was $53 million on November 4.

So the tidy story, that ETH held up because funds bought it, doesn't survive the numbers. Funds were net sellers of Ethereum and its price still barely moved. Frankly, that makes the XRP slide harder to blame on ETFs alone. Ethereum has other things holding it up: 24/7 Wall St. counts $43.5 billion of the $81.2 billion locked in DeFi, about 54%, on its network, which gives the coin a base of actual use. XRP has a 90-day correlation with Bitcoin that the outlet put at 0.92 in late October, which means it mostly trades as a louder copy of Bitcoin's mood.

The more useful read is that ETH has a floor under it and XRP has a lid on it.

What happens if XRP breaks lower?

The next markers are not far away. XRP is the only top-five coin below its 200-day average, sitting about 9% under $1.27, and the 20-day average at $1.28 and 50-day at $1.38 both sit above the price. Any bounce has to climb through three layers of resistance before it looks like a recovery.

Below the current price, the chart gets thin. The closest hard level 24/7 Wall St. names is the August 16 closing low of $0.99, roughly 15% below where XRP trades now. The coin is already down about 37% in 2026 and sits some 68% below its July 17, 2025 high of $3.65.

There's also a positioning risk. CryptoTicker noted that on OKX futures the long-to-short account ratio hit 3.91, nearly four bullish bets for every bearish one. If price keeps sliding, those longs get forced out, and forced selling in a market with no ETF bid is how a 7% week turns into a 15% one.

WisdomTree, which manages roughly $113 billion in assets, awaits its spot XRP ETF ruling after Bitwise, Canary Capital and CoinShares already cleared their own SEC deadlines earlier in the week. - WisdomTree XRP ETF approval deadline October 2026 - largest asset manager XRP spot ETF ruling

For now, the thing to watch is the ETF tally. 24/7 Wall St. found zero inflows to XRP funds in November through the 6th, so a single positive day would be the first sign that someone with a fund mandate has started buying at $1.16.

Also read: Strategy's 849,327 bitcoin are worth barely more than Saylor paid for them • Binance tells French users it will close their accounts on December 31 • Suspicious Kalshi and Polymarket bets landed hours before Times/Siena polls

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