XRP traded near $1.17 on Friday, down 2.43% over 24 hours and roughly 24.5% below the cited October level of $1.55, as sellers maintained pressure and analysts monitored several potential support zones.
Schwartz Sets Boundaries for XRP Army Discussions
David Schwartz, Ripple’s CTO emeritus, published a message on X on November 7 urging the XRP Army to stop posting insults and unrelated cryptocurrency comments beneath his social media replies. He said he would block accounts that disrupt conversations, including supporters promoting XRP in unrelated threads.
Schwartz explained that irrelevant replies had increased, especially when he joined conversations about subjects outside cryptocurrency. He said leaving those replies unchecked exposes other participants and their followers to unwanted crypto posts, and that blocking helps protect those conversations from repeated disruption.
He added that criticism remains welcome when people offer substance, avoid slurs, and choose an appropriate discussion. The policy covers both hostile comments and enthusiastic promotion when either appears beneath an unrelated exchange.
Responses from the XRP Army included a suggestion for a weekly thread welcoming introductions from new ecosystem participants. Schwartz reacted positively to the proposal, which would give community promotion a dedicated venue. Another participant argued that unanswered messages encouraged people to keep seeking his attention. Schwartz nevertheless offered a path back for blocked users who agreed to stop disruptive replies, saying they could contact him about removing the block and that he held no personal hatred.
XRP Price Tests Support as Traders Cut Leveraged Positions
CoinGlass data showed roughly $10.71 million in total futures liquidations during the preceding day. Open interest stood around $2.76 billion, reflecting substantial outstanding derivatives exposure despite the selloff.
XRP saw a 12.36% decline in open interest as the price lost the $1.21 support level. Falling open interest indicates reduced outstanding exposure, although it does not independently establish the direction of remaining positions. The report also described social sentiment at its weakest since July.
XRP exchange-traded funds recorded inflows on six days during the previous month, while cumulative net inflows remained $1.81 billion. Sessions without inflows can include both withdrawals and flat readings, so that pattern does not establish continuous outflows.
Analysts Identify Support Zones
Analyst ChartNerd identified demand between $1.04 and $1.16 after a breakdown beneath weekly support. He said XRP reclaiming $1.34 could improve the technical outlook. ChartNerd also noted that XRP remained below its 20-week and 50-week moving averages, which added resistance for buyers after the loss of the 10-week support floor.
Ali Martinez highlighted a channel boundary near $0.99 as potential support. His assessment also pointed to weak volume and declining market share, with Bitcoin dominance complicating a sustained recovery.
Dark Defender offered a different interpretation of XRP weakness, maintaining that the longer-term structure remained intact. He identified $1.12 as support, describing a level that previously acted as resistance during July and August. He had marked $1.21 and $1.12 on October 25, before the latest decline reached the lower support area.
