XRP traded at $0.9464 on November 15, marking a significant slide after the asset touched a 24-hour low of approximately $0.8942. The token was down 18.47% over the preceding seven days, a decline that outpaced the broader market, with Bitcoin trading below $64,000 and Ethereum below $1,800 during the same period. Despite the weekly loss, XRP managed a rebound of about 5.8% from its intraday low, though it remained well below the $1.00 threshold.
Technical Indicators Signal Oversold State
Market data from Gate showed the 14-period RSI on the daily chart at 16.1, a level that typically indicates deeply oversold conditions. The 20-day exponential moving average (EMA) stood near $1.15, while the 50-day EMA was positioned at $1.2499, both well above the current trading price. This gap suggests that the asset has decoupled from its medium-term moving averages, a pattern often associated with sharp corrections.
Derivatives data from CoinGlass recorded approximately $47.3 million in XRP liquidations over the past 24 hours. Long positions accounted for 91% of these liquidations, indicating that traders betting on price increases were forced out of the market. Open interest remained near $1.98 billion, and the funding rate was slightly negative at -0.0020%, reflecting a mild bearish sentiment in the perpetual futures market.
ETF Outflows and Institutional Moves
Capital flows from US spot XRP exchange-traded funds (ETFs) showed consistent withdrawals during the week ending November 13. The XRPSONAR tracker reported net outflows of $19.13 million for the period. Specific daily withdrawals included $10.42 million on November 9, $7.62 million on November 10, and $1.09 million on November 13. As a result, total assets under management in these funds declined from approximately $1.274 billion on November 9 to $1.152 billion by November 13.
Analyst Ali Charts identified $0.99 as a critical support level for the asset. “Now, $0.99 must hold,” Charts stated, positioning that level as the primary line of defense for bulls. If that support fails, the downside target shifts to $0.80. A move to $0.80 would represent a further decline of approximately 15.5% from the reference price, reducing the market capitalization to roughly $50.8 billion. Conversely, a return to $1.10 would require a gain of roughly 16.2%, pushing the market cap near $69.9 billion.
Ripple’s Regulatory and Business Progress
While the price action has been negative, Ripple has advanced its institutional footprint. The company received final approval from the Office of the Comptroller of the Currency (OCC) on October 26 to establish Ripple National Trust Bank. The approved activities for the trust bank include managing segregated reserves for the RLUSD stablecoin, acting as a collateral trustee, and providing fiduciary digital-asset custody. Brad Garlinghouse, Ripple’s CEO, commented on the approval, stating, “A national trust charter gives us an even stronger foundation for RLUSD.”
Standard Custody & Trust Company remains the issuer of the RLUSD stablecoin under New York supervision. On October 27, Ripple announced a partnership with Robinhood covering RLUSD, treasury operations, and institutional markets. RLUSD is already live on Robinhood Chain and Bitstamp by Robinhood, with availability in the main Robinhood app expected later in the year. Robinhood is also using RLUSD on the XRP Ledger for institutional settlement. The XRP Ledger’s standard minimum transaction fee is 10 drops (0.00001 XRP), which is destroyed rather than paid to validators, a mechanism that slightly reduces the circulating supply of 63.52 billion tokens out of a maximum supply of 100 billion.
Macro data also played a role in the market sentiment. The Bureau of Labor Statistics reported a 0.3% monthly increase and a 6.5% annual rise in October producer prices, adding to the uncertainty surrounding future monetary policy. For XRP, the path to the all-time high of $3.65 would require a gain of approximately 285.7%, while reaching $2 would require a 111.3% increase from the current reference price of $60.1 billion in market cap.
