The XRP cryptocurrency fell to 89 cents during trading, its lowest level since November 2024. The decline came amid bitcoin and Ethereum falling to levels last seen in August, CoinDesk reports.
XRP decline has continued since 2025
Since the start of the current quarter, XRP has lost 36% of its value. The token has been in a prolonged downtrend after its price exceeded $3.60 in July 2025. XRP last traded near the 89-cent mark in early November 2024, when Donald Trump had just won the US presidential election, promising rules more favorable to the crypto industry.
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Outflows from ETFs
According to SoSoValue, US spot XRP ETFs recorded net outflows of $19.13 million last week, the largest since March 2026. Since their launch in November last year, these funds have attracted approximately $1.5 billion. By comparison, bitcoin and Ethereum ETFs have attracted several billion dollars, although they too have recently recorded outflows.
Decline in stablecoin supply
The combined market capitalization of the two largest US dollar-pegged stablecoins, USDT and USDC, fell to $244 billion, the lowest level since September 2025. At the beginning of May, it stood at around $270 billion. Glassnode analysts noted that the stablecoin supply declined by $17 billion over the past month, marking the sharpest drop since 2022. Stablecoins are often used to finance purchases of crypto assets and international transfers.
