Key Highlights
- XRP’s Coinbase daily low was last below Saturday’s trough on Nov. 16, 2024, when XRP reached $0.8784.
- XRP fell about 21.4% over seven days and 29.3% over 28 days through Nov. 14, outpacing Bitcoin’s and ether’s declines over the same periods.
- The broader stablecoin market contracted, while U.S. spot XRP ETFs recorded $529,500 in net outflows during the Nov. 2–6 trading week.
XRP Decline Outpaces Bitcoin and Ether
XRP’s recent decline has been sharper than the losses recorded by Bitcoin and ether across comparable periods. Based on the last trades in completed UTC trading days through Nov. 14, XRP fell approximately 21.4% over seven days and 29.3% over 28 days.
Bitcoin declined 15.4% over seven days and 21.2% over 28 days, while ether dropped 20.9% and 26.3%, respectively. These comparison windows ended at 7 p.m. ET on Saturday and did not include XRP’s subsequent recovery toward 95 cents.
The Coinbase data focuses specifically on the exchange’s XRP-dollar market and compares intervening daily lows rather than daily closing prices. Coinbase’s daily trading records last show a price below Saturday’s trough in the trading day dated Nov. 16, 2024, in UTC, when XRP reached $0.8784.
Stablecoin Market Contraction Adds to Liquidity Concerns
The broader cryptocurrency market’s stablecoin base also contracted during the period. DefiLlama’s dashboard, dated Nov. 15, showed total stablecoin market capitalization at approximately $284.9 billion, representing a 5.25% decline over 30 days and a 1.51% decline over seven days.
The contraction is consistent with the explanation that reduced stablecoin liquidity contributed to broader market weakness. However, the data does not establish how much the shrinking stablecoin market caused XRP’s decline or explain the full extent of XRP’s relative underperformance.
U.S. Spot XRP ETFs Posted Net Outflows
Earlier exchange-traded fund flow data also showed withdrawals from U.S. spot XRP ETFs. In its report covering the Nov. 2–6 trading week, data provider SoSoValue recorded $529,500 in net outflows from those funds.
The XRP ETF withdrawals were substantially smaller than the $1.28 billion in Bitcoin ETF withdrawals recorded during the same week and the $365 million withdrawn from ether funds. The figures document investor redemptions, but they do not measure the extent to which ETF flows caused XRP’s relative weakness.
Why This Matters
XRP’s larger percentage losses occurred alongside a contraction in total stablecoin market capitalization and net outflows from U.S. spot XRP ETFs. Together, the figures provide market context for the decline, but they do not identify a single cause. The available data distinguishes between observed price movements, reduced stablecoin capitalization and ETF redemptions rather than proving a direct causal relationship among them.
Frequently Asked Questions
How much did XRP fall during the reported periods?
XRP lost about 21.4% over seven days and 29.3% over 28 days based on completed UTC trading days through Nov. 14.
What was XRP’s Coinbase low on Nov. 16, 2024?
XRP reached $0.8784 in Coinbase’s XRP-dollar market during the Nov. 16, 2024, UTC trading day.
How much money left U.S. spot XRP ETFs?
SoSoValue reported $529,500 in net outflows from U.S. spot XRP ETFs during the Nov. 2–6 trading week.
