Overview
- XRP slid to roughly $1.15–$1.19 on Nov. 6–7, a drop of about 25% from early‑October highs near $1.55 and the sharpest pullback since late August.
- On‑chain trackers reported a major exchange withdrawal of about 418.5 million XRP on Nov. 4, a move analysts say reduced exchange sellable supply but may include internal transfers.
- Large holders showed buying interest during the fall, with analysts reporting whale accumulation of roughly 60 million XRP over a week and other counts of 16.5 million added in recent days.
- Derivatives activity amplified the downturn as more than $10 million of long positions were liquidated and open interest fell about 12.36%, signaling broad deleveraging.
- Ripple’s October 27 announcements — a Robinhood partnership for its RLUSD stablecoin and final OCC approval to form Ripple National Trust Bank — strengthen on‑ramps and custody but have not yet arrested price weakness, leaving traders focused on support in the $1.14–$1.21 area and resistance near $1.34–$1.36.