- Whale sell-offs and market turbulence push the XRP price below a key support level.
- The debut of Bitwise’s XRP ETF adds volatility but fails to ignite momentum.
- The $1.90 support level is critical for XRP’s short-term stability.
The XRP price has plunged sharply, slipping below the $2.00 mark amid a wave of whale sell-offs and volatile spot XRP ETF launches.
XRP is facing growing pressure from both institutional flows and broader market turmoil, raising questions about whether the crucial $1.90 support can hold in the near term.
Whales unload huge amounts of XRP
Large holders have had an outsized impact on the XRP market by offloading significant quantities of the token.
Blockchain data from the past 48 hours indicates that whales sold nearly 200 million XRP, creating intense selling pressure that has overwhelmed buying interest.
190 million $XRP sold by whales in the last 48 hours! pic.twitter.com/nB0P7jADCx
— Ali (@ali_charts) November 20, 2025
This spike in circulating supply coincided with a broader market flash crash that pushed Bitcoin to a seven-month low near $82,000 and triggered more than $1.9 billion in liquidations across crypto markets.
XRP’s high correlation with Bitcoin amplified the losses, contributing to the token’s underperformance relative to the wider market.
XRP ETFs bring volatility but fail to spark price momentum
Spot XRP ETFs, intended to encourage institutional participation, have produced mixed results so far.
Bitwise’s XRP ETF, the most recent to launch, recorded roughly $25 million in initial trading volume.
While Canary Capital’s XRPC ETF continues to draw attention with $268 million in assets under management, the tepid market response to Bitwise’s listing has generated short-term volatility rather than a clear bullish reaction.
The market appears to have treated these launches as classic “sell the news” events, exerting downward pressure on XRP prices even as interest in institutional products grows.
Technical XRP price analysis points to bearish trends
Technical indicators highlight a challenging outlook for XRP.
After breaking below the psychological $2.00 level, the token is now testing the critical $1.90 support, which analysts have identified 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 has also broken down from a multi-month descending triangle and formed a death cross, where the 50-day EMA sits below the 200-day EMA—both classic signs of sustained bearish momentum.
The RSI currently sits near the oversold region 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 into the $1.55 area, representing a significant decline from recent highs.
Staking and regulatory developments remain long-term catalysts
Beyond immediate price action, Ripple is exploring staking proposals on the XRP Ledger to strengthen its presence in decentralized finance (DeFi) and attract institutional participants.
Although implementation faces technical hurdles and is not imminent, staking could enhance network security and offer long-term incentives to token holders.
Ongoing regulatory developments, including potential changes to Basel crypto capital rules, could also shape institutional adoption.
Revisions that lower banks’ excessive capital requirements for crypto exposure would make XRP a more attractive option for mainstream financial participation and could indirectly support price stability over time.