- Mass whale sell-offs and market turbulence push XRP price below a key support level.
- The Bitwise XRP spot ETF debut adds volatility rather than sustained buying momentum.
- The $1.90 support level is critical for XRP’s short-term stability.
The price of XRP plunged, falling below the $2.00 mark after a wave of large sell-offs and the volatile launches of spot XRP ETFs.
XRP is facing mounting pressure from institutional flows as well as broader crypto market turmoil, and recent activity has raised doubts about its ability to hold the important $1.90 support zone.
Whales unloading massive amounts of XRP
The XRP market has been heavily impacted by large holders offloading significant quantities of the token.
On-chain data from the past 48 hours shows whales moved nearly 200 million XRP, creating strong selling pressure that has outpaced buying interest.
190 million $XRP sold by whales in the last 48 hours! pic.twitter.com/nB0P7jADCx
— Ali (@ali_charts) November 20, 2025
The surge in available supply coincided with a broader market sell-off, as Bitcoin fell to a seven-month low near $82,000, triggering over $1.9 billion in liquidations across crypto markets.
A strong correlation between XRP and Bitcoin amplified losses and contributed to the token lagging the broader market.
XRP ETFs bring volatility but not a clear price catalyst
Spot XRP ETFs, which aim to increase institutional participation, have produced mixed results so far.
Bitwise’s XRP ETF, the most recent to launch, debuted with roughly $25 million in turnover.
While Canary Capital’s XRPC ETF continues to attract attention with reported assets around $268 million, the muted response to the Bitwise offering generated short-term volatility rather than sustained market optimism.
Market participants appear to have treated these launches as classic “sell the news” events, putting downward pressure on XRP’s price even as interest in institutional products grows.
Technical price data points to a bearish backdrop
Technical indicators suggest a challenging environment for XRP.
After breaking below the psychological $2.00 level, the token is now retesting the key $1.90 support identified by analysts as an important 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
The token also broke below a multi-month descending triangle pattern and printed a death cross, with the 50-day EMA moving below the 200-day EMA—signals consistent with sustained bearish momentum.
The RSI sits near oversold territory around 30, reflecting extreme market fear but not yet signaling a clear reversal.
If the $1.90 support fails to hold, XRP could slide toward $1.80 or even the $1.55 range, representing a significant drop from recent highs.
Staking and regulatory developments remain longer-term catalysts
Beyond immediate price action, Ripple is exploring staking solutions on the XRP Ledger to strengthen its presence in decentralized finance (DeFi) and attract institutional participants.
Although implementation remains distant due to technical complexity, staking could enhance network security and provide long-term incentives for token holders.
Ongoing regulatory developments, including potential adjustments to Basel-style crypto capital rules, could also influence institutional adoption.
Changes that lower excessive capital requirements for banks could make XRP a more attractive option for mainstream financial participation, indirectly supporting price stability over time.