XRP has fallen 23.4% since Nov. 4, local time, posting a steeper decline than bitcoin, ethereum and solana over the same period.

The Crypto Basic, a blockchain news outlet, reported on Nov. 12 that XRP posted the biggest drop among four major cryptocurrencies as of Nov. 10.

Over the same period, ethereum fell 18.2%, solana slid 17.0% and bitcoin dropped 10.4%. XRP underperformed bitcoin by about 13 percentage points, ethereum by 5.2 percentage points and solana by 6.4 percentage points. Its price also slipped from about $1.36 to $1, giving up support levels in succession.

The market has cited three factors behind the sharp drop. Crypto analyst EGRAG Crypto pointed to leverage liquidations, selling by long-term holders and the possibility of a deliberate liquidity hunt. He assigned weights of 30%, 20% and 50%, respectively, but drew a line by saying this was personal judgment, not probability.

The key point is that market structure was weak even before XRP entered a downtrend. XRP had already broken below the $1.24 to $1.26 range, and there were many leveraged long positions stacked below the spot price. In such a structure, forced liquidations can cascade when prices slip, potentially magnifying the decline.

XRP in fact gave up key support zones one by one. The market first fell below $1.19, and $1.14 and $1.10 also broke in succession. The $1.10 area had already been flagged as a major downside target after XRP lost $1.26. With the current price down to around $1.05, the short-term zone that buying needs to defend has narrowed to $1.00 to $1.04.

EGRAG Crypto’s most likely scenario was a liquidity hunt to shake out “OG” early holders. But it cannot be confirmed from price action alone. If support breaks, forced liquidations and stop-loss orders can flood in at once, amplifying the move even without manipulation.

The claim of selling by long-term holders is also still speculative. Multiple factors could act at once, including spot selling, derivatives liquidations, a drop in buy-side waiting orders and an overall risk-off flow. Unless wallet-level data confirm a specific long-term holder’s deposits to exchanges and selling, the claim that early holders led the decline lacks basis.

Recent on-chain activity has also shown signs that some large holders increased positions in a weak market. This has prompted comments that it is hard to simplify the interpretation that whales moved in unison to sell.

For a short-term rebound, XRP first needs to regain $1.15. It would then need to retrace to the $1.20 to $1.25 range for the short-term structure to improve meaningfully. If the $1.00 to $1.04 defense wavers, pressure around $1 could intensify. For now, the clearest basis for explaining XRP’s sharp drop is fragile market structure and excessive leveraged long exposure, while how much long-term holder selling or an intentional liquidity hunt actually contributed has yet to be proven.

#XRP – WHY IS XRP CRASHING HARDER THAN #BTC, #ETH & #SOL Since November 4th? Guys, LOOK AT THE NUMBERS! XRP: −23.4% ETH: −18.2% SOL: −17.0% BTC: −10.4% WHY IS XRP TAKING THE BIGGEST HIT? My probability-based assessment: 1️⃣ 30% – LEVERAGE FLUSH: Long liquidations and weak buying demand accelerating the crash! 2️⃣ 20% – OGs SELLING: Early holders potentially taking profits and rotating into other coins! 3️⃣ 50% – MANIPULATION: A deliberate liquidity hunt to shake out weak hands! ⚠️ These are my subjective estimates, NOT proven facts. $1.00–$1.04: Critical stabilization zone. $1.15 → $1.25: Levels bulls need to reclaim! MY TAKE: I favor Manipulation to scare the newbies. But the BIG question is whether whales are absorbing the selling or joining it! MEN LIE. WOMEN LIE. CHARTS & NUMBERS DON'T LIE! ⚔️ #EGRAGCRYPTO ripple:native