XRP trades near $1 as ETFs post $18 million outflow, Bitcoin drops below $70,000

XRP approached the key $1 psychological threshold on November 13, as persistent selling pushed the cryptocurrency toward its lowest levels in recent months. The move coincided with Bitcoin falling below $70,000, adding to the bearish sentiment across the broader digital asset market.

XRP ETFs register sharp outflows

Spot XRP exchange-traded funds in the United States recorded a combined net outflow of about $18 million during November 9 and 10, based on fund-flow data covering the period. Withdrawals reached nearly $10.4 million on November 9 and a further $7.6 million on November 10. Fund manager Bitwise was responsible for a large share of the initial net outflows, amplifying concerns about weakening institutional interest in XRP ETFs.

The outflows extend an earlier trend among XRP investment products, despite Ripple‘s ongoing expansion in banking and custody services. Accumulated net inflows to XRP ETFs remain quite substantial at roughly $1.7 billion, but the latest redemptions suggest that new institutional buying has cooled in the short term. Fund flow analysts have cautioned that, while large, these withdrawals account for only a small part of the total historical inflows, indicating persistent underlying investor interest.

XRP ETFs posted roughly $18 million in outflows over two sessions, highlighting a notable shift in short-term institutional demand even as longer-term cumulative inflows remain significant.

At the same time, analysts observe that earlier investments at higher price levels may have resulted in unrealized losses for some institutional holders. This pattern reduces the likelihood of renewed buying unless the price action improves.

Bitcoin decline compounds XRP pressure

Bitcoin’s pullback below $70,000 has intensified pressure on cryptocurrencies across the board. On Friday, BTC changed hands near $69,000, following a breakdown beneath the previously established $72,000 support level. This slump, together with liquidations of leveraged positions, has triggered broad-based selling in top crypto assets, including XRP.

XRP’s slide has tracked the general direction of the market, though the scale of losses has varied from session to session. Market strategists point to stronger-than-expected US inflation data as another negative influence, raising prospects for further monetary tightening by the Federal Reserve. A backdrop of rising rates and a stronger US dollar typically weighs on risk-sensitive assets including XRP.

Bitcoin’s fall below $70,000, combined with persistent ETF outflows, has left XRP vulnerable to further declines, according to market analysis.

Recent large XRP transfers between whale wallets and exchanges have indicated heightened trading activity. However, blockchain analysts stress that deposit movements do not automatically confirm major holders are selling at current levels.

XRP at a critical price crossroads

For XRP, the $1 mark now stands as an important psychological and technical support zone. If the token sustains a move below this level, the next immediate downside could open toward the $0.98 to $0.985 region, with $0.95 as a subsequent area of focus should bearish momentum accelerate. These levels represent possible, but not predetermined, price targets.

On the upside, defending $1 and reclaiming ground above $1.05 could signal the first step toward stabilization. Bulls would then seek to overcome resistance near $1.10 to $1.12, followed by an effort to regain the previous $1.15 support range.

The recent price action extends a sequence of failed rebound attempts for XRP, including a slip toward $1.09 earlier in November. Analysts are watching to see if $1 can hold as a foundation for renewed bids or if sellers will continue to dominate the short-term trend.