XRP’s Solar Meltdown: Ripple’s Darling Drips 21% Under November Sun
The Ripple network's native token, XRP, has indeed seen a dramatic decline, plunged by 21% in November
Quick overview
- XRP has experienced a significant decline of 21% in November, dropping from $2.60 to $2.25, resulting in $40 million in liquidations and a loss of $1.5 billion in market cap.
- Currently trading at $2.2, XRP shows signs of stabilization but remains volatile due to broader market pressures and large holders offloading $50 million daily.
- Negative momentum indicators and bearish signals dominate the daily chart, while mixed oscillator readings suggest potential intraday buying interest amidst ongoing selling pressure.
- Contributing factors to the market's risk-off sentiment include the Fed's hawkish stance, rising USD Index, US-China trade tensions, and fears of stagflation.
Live XRP/USD Chart
The Ripple network’s native token, XRP, has indeed seen a dramatic decline, plunging by 21% in November, from a recent peak of $2.60 to $2.25. This caused $40 million in derivatives market liquidations and erased $1.5 billion in market capitalization in a matter of hours.
XRP is trading at $2.2, exhibiting some stabilization but continuing to fluctuate due to pressures from the larger cryptocurrency market.
Large holders (whales) moved their holdings to exchanges by offloading $50 million every day. Although short-term dumps continue, exchange reserves are declining, which suggests accumulation.
Risk-off sentiment was triggered by the Fed’s hawkish stance (only two rate cuts are anticipated for 2025), a rising USD Index (to 108.15), and US-China trade tensions (new 100% tariffs announced). Fears of stagflation and a possible
The U.S government shutdown was a contributing factor. For XRP, the October flash crash was especially devastating, wiping out $100 billion in market value.
The daily chart shows negative momentum readings, a moderately strong ADX and a strong sell MACD signal confirming the bearish momentum that has already been established. While CCI is neutral and oscillators like RSI are in neutral to oversold territory, Stoch RSI does not strongly suggest an oversold bounce. Although the Awesome
Oscillator indicators support the prevailing selling trend, Bull/Bear Power provides a buy signal, indicating some intraday pockets of buying interest. With no notable gap at the open and the current price hovering around today’s low, XRP fell 4.06 percent to $2.2 today, suggesting high volatility and ongoing pressure following the open. Strong bearish momentum and mixed oscillator readings clearly diverge, and intraday selling supports negative momentum signals.
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