XRP falls to 89 cents, its lowest level since November 2024

Key Facts

XRP fell to 89 cents on November 14, its lowest level since November 2024, according to a CoinDesk report published on November 15. EL7 data showed the token closed at $0.9144 that day, after closing at $1.1132 on November 8. CoinDesk placed the decline within broader pressure on the crypto market, alongside outflows from XRP funds and a shrinking supply of stablecoins. Over a longer period, CoinDesk said the token fell 36% during the quarter cited in the report. It added that XRP has continued to decline since topping $3.60 at its July 2025 peak.

U.S.-listed XRP funds recorded net outflows of $19.13 million in the previous week, according to SoSoValue data cited by CoinDesk. The report described that amount as the largest net outflow since March 2026. The outflows coincided with XRP falling to its lowest level since November 2024, as liquidity available in the digital-asset market declined. The combined market capitalization of USDT and USDC also contracted to about $244 billion, its lowest level since September 2025, CoinDesk said. The report linked weak flows into XRP funds and the falling supply of stablecoins to the pressures facing the market.

CoinDesk cited Glassnode analysts as saying stablecoin supply contracted by $17 billion in the previous month, its largest decline of this kind since 2022. The analysts said some stablecoin holders were converting their balances to cash, draining purchasing power from the crypto market. This assessment came as the combined market capitalization of USDT and USDC fell to $244 billion, according to the same report. In the funds market, net outflows from U.S. XRP funds totaled $19.13 million in the previous week. CoinDesk placed these moves among the factors weighing on the market, without identifying the individual effect of each factor on XRP's price.

The sell-off spread to major cryptocurrencies during the November 14 session, with Bitcoin down 5.75% at $64,451.2 and Ethereum falling 7.89% to $1,776.58, according to Investing.com. A separate report by the site said about $2 billion in crypto positions were liquidated over 24 hours through Sunday morning in Singapore, including $774 million in Bitcoin and $488 million in Ether. For a 24-hour period through November 14, Investing.com reported liquidations totaling $1.47 billion, including $1.31 billion in bullish bets and $677 million in Bitcoin positions, citing CoinGlass. The site also said U.S. spot Bitcoin funds recorded cumulative outflows of about $1.91 billion over seven sessions since November 5, including $185.45 million on Friday, November 13. The figures show selling and liquidation pressures broadening across the market during the same period in which XRP hit its lowest level since November 2024.

Bitcoin had fallen more than 20% since late October and was on track for a sixth consecutive weekly loss in the week ending November 14, according to Investing.com. The site attributed the accelerating decline to Bitcoin breaking below its 200-day moving average near $73,000, which it said prompted new short positions and the closure of leveraged bullish bets. On November 11, markets were pricing in a roughly 89% chance of a 25-basis-point Federal Reserve rate hike in December, according to CME FedWatch data cited by Investing.com. In its assessment of liquidation risk, Glassnode identified a range between $59,500 and $62,600 where potential Bitcoin liquidations were concentrated, according to the report published on November 15. A fall into that range could increase the risk of another wave of forced selling, the site reported, citing Glassnode.