- Recent whale sell-offs and subsequent market instability have precipitated a decline in XRP’s price below critical support thresholds.
- The introduction of Bitwise’s XRP ETF has introduced volatility without engendering substantial buying momentum.
- The $1.90 support level is of paramount importance for the short-term stability of XRP.
In recent trading sessions, the price of XRP has undergone a pronounced decline, falling beneath the $2 threshold in the face of significant whale sell-offs coupled with a tumultuous market environment characterized by the introduction of spot XRP ETFs. This development raises critical inquiries regarding XRP’s capacity to maintain its vital support level at $1.90 amidst increasing bearish pressure from both institutional actors and broader cryptocurrency market dynamics.
Whales Offloading Substantial Quantities of XRP
The dynamics within the XRP market have been notably shaped by large holders—commonly referred to as “whales”—engaging in substantial liquidation of their holdings. Over the preceding 48 hours, blockchain analytics indicate that whales have transferred nearly 200 million XRP, engendering pronounced selling pressure that has eclipsed any counterbalancing buying interest.
190 million $XRP sold by whales in the last 48 hours! pic.twitter.com/nB0P7jADCx
— Ali (@ali_charts) November 20, 2025
This influx of liquid supply coincided with a broader market flash crash, wherein Bitcoin plummeted to a seven-month low near $82,000, resulting in over $1.9 billion in liquidations across various crypto markets. Furthermore, XRP’s historically high correlation with Bitcoin has exacerbated its losses, thereby contributing to its underperformance relative to the wider cryptocurrency landscape.
XRP ETFs Inducing Volatility Without Corresponding Price Momentum
The introduction of spot XRP ETFs—designed to enhance institutional participation—has yielded mixed outcomes thus far. The recent launch of Bitwise’s XRP ETF saw an initial turnover approximating $25 million. In contrast, Canary Capital’s XRPC ETF has garnered significant attention with assets under management reaching $268 million; however, the tepid reception of Bitwise’s offering has instead fostered short-term volatility rather than instigating optimism within the marketplace.
The prevailing sentiment appears to suggest that market participants are interpreting these launches as archetypal “sell-the-news” events, thereby exerting further downward pressure on XRP’s price even amidst a burgeoning interest in institutional-grade products.
XRP Price Technicals Indicate a Bearish Trajectory
Technical analysis reveals a precarious environment for XRP. Following its breach below the psychologically significant $2 barrier, the asset is now retesting the crucial $1.90 support level, identified by analysts as a primary accumulation zone.
$XRP accumulation zones I’m watching like a hawk: $2.21 / $2.06 / $1.90 / $1.56.
When the macro flips risk-on… XRP won’t climb — it’ll teleport. Whales already know.
— Ripple Bull Winkle | Crypto Researcher 🚀🚨 (@RipBullWinkle) November 20, 2025
Moreover, the asset has descended below a multi-month descending triangle pattern and is currently exhibiting a death cross formation, where the 50-day Exponential Moving Average (EMA) resides beneath the 200-day EMA, signifying persistent bearish momentum. The Relative Strength Index (RSI) presently hovers in oversold territory around 30, indicative of extreme market fear yet lacking definitive signs of reversal.
Should the $1.90 support level fail to sustain itself, XRP could face additional downside risk towards the $1.80 mark or potentially even lower towards $1.55, signifying a substantial decline from recent peaks.
Long-Term Catalysts: Staking and Regulatory Developments
Beyond immediate price fluctuations, Ripple is actively exploring staking solutions on the XRP Ledger aimed at fortifying its position within decentralized finance (DeFi) and enticing institutional participants. Though implementation remains on the horizon due to inherent technical complexities, staking could bolster network security while delivering long-term incentives for token holders.
Furthermore, ongoing regulatory developments—including potential modifications to Basel’s crypto capital requirements—may significantly influence institutional adoption rates. Adjustments that alleviate excessive capital requisites for financial institutions could render XRP a more appealing asset for mainstream financial engagement, indirectly bolstering price stability over time.
