Summary
- XRP (XRP) fell to $0.89, hitting its lowest level in about two years since November 2024.
- XRP (XRP) has dropped about 36% in the fourth quarter alone this year and is down about 75% from its peak of $3.60 in July last year.
- The analysis said buying power in the crypto market is shrinking as about $19.13 million in net outflows left U.S. spot XRP ETFs and stablecoin supply fell by $17 billion.
Forecast Trend Report by Period
XRP has fallen to its lowest level since November 2024, hitting its weakest price in about two years.
CoinDesk reported on November 15 that XRP fell as low as $0.89 during the session, its lowest intraday level since November 2024. XRP has dropped about 36% in the fourth quarter alone this year and is down about 75% from its peak of $3.60 in July last year.
Recent outflows from spot exchange-traded funds have been cited as a key driver of the weakness. According to SoSoValue, roughly $19.13 million in net outflows was recorded from U.S. spot XRP ETFs this week.
Declining liquidity across the broader cryptocurrency market has also weighed on prices.
Glassnode said stablecoin supply has fallen by $17 billion over the past month. The on-chain analytics firm said that was the largest drop since 2022, as investors convert stablecoins into fiat currency and reduce buying power in the crypto market.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.