Key takeaways
- XRP tests critical $1 support amid broader crypto selling
- Spot XRP ETFs lose approximately $18 million in recent outflows
- Bitcoin's drop below $70,000 increases downside risks for XRP
XRP is trading dangerously close to the psychological $1 level on November 13, extending a sharp decline as Bitcoin falls below $70,000 and institutional demand through US spot XRP exchange-traded funds weakens.
The cryptocurrency recently traded around $1.00-$1.02, with some market reports recording an intraday dip to approximately $0.9967. The move follows XRP's earlier decline below $1.15, leaving buyers struggling to defend another important support level.
XRP ETFs Lose $18M as Institutional Buying Weakens
US spot XRP ETFs recorded approximately $18 million in combined net outflows across November 9–10, according to fund-flow tracking data.
Withdrawals totaled roughly $10.4 million on November 9 and $7.6 million the following session. Bitwise accounted for much of the initial selling, reinforcing concerns over deteriorating short-term institutional demand.
The latest withdrawals extend the earlier ETF outflow trend, which emerged despite continued expansion of Ripple's banking and custody operations.
However, the broader picture remains more complicated. Cumulative ETF inflows still stand near $1.7 billion under one tracking methodology, indicating that recent withdrawals represent only a fraction of historical contributions.
The problem is that accumulated investment does not necessarily create fresh buying pressure. Earlier estimates of unrealized XRP ETF losses also suggest that many investors entered at considerably higher prices.
Bitcoin Falls Below $70K as XRP Selling Accelerates
Bitcoin's breakdown below $70,000 has added another source of pressure.
BTC traded near $69,000 on Friday after previously breaking the critical $72,000 support level. The decline has coincided with leveraged liquidations and persistent selling across major cryptocurrencies.
XRP has followed the broader market lower, although its percentage losses have differed from Bitcoin's during individual trading sessions.
The move also comes as stronger US inflation data increases expectations of additional Federal Reserve tightening. Higher interest rates and a stronger dollar can weaken demand for speculative assets, including cryptocurrencies.
Earlier XRP whale exchange transfers had already highlighted potential selling pressure, although exchange deposits alone do not establish that large holders are currently selling.
XRP Price Prediction: Can $1 Hold or Is $0.98 Next?
The $1 level now represents XRP's most important near-term psychological support.
A sustained break below it could expose the $0.98–$0.985 region, followed by $0.95 if selling pressure accelerates. These are conditional downside scenarios rather than guaranteed targets.
Conversely, holding $1 and recovering above $1.05 would offer an initial indication of stabilization. Buyers would then need to reclaim $1.10–$1.12 before challenging the former $1.15 support zone.
The latest decline follows a series of failed recovery attempts, including the November breakdown toward $1.09.
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Marcus Hale
Marcus Hale is a crypto and financial markets writer covering Bitcoin, Ethereum, digital assets, regulation, ETFs, and institutional adoption. His work focuses on market-moving developments, investor trends, and the broader forces shaping the crypto economy.
https://coinpaper.com/38775/xrp-price-prediction-xrp-nears-1-as-et-fs-lose-18-m-and-bitcoin-selloff-deepens
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