XRP has declined 19.57% over the past week to $1.05, according to market data. The token now trades just above $1, which analysts identify as key support.
Despite the price decline, large holders are actively buying. Wallet addresses holding at least 10,000 XRP tokens have grown to approximately 343,500, an increase of 16,815 wallets or 5.15% since February 9. This accumulation has continued even as XRP lost roughly 30% over the past seven weeks.
Institutional flows are moving in the opposite direction. US spot XRP exchange-traded funds posted $10.42 million in net outflows on November 9, their largest single-day outflow since March 9, followed by an additional $7.62 million in outflows on November 10.
Leverage Pullback on Binance
XRP leverage activity on Binance has declined to a three-month low, with the Estimated Leverage Ratio falling to approximately 0.14. Traders are reducing positions financed through borrowed capital, which typically occurs during periods of heightened price pressure.
Binance held $189 million in XRP open interest on November 11, close to its August 2 level of $182 million. Lower leverage ratios can reduce the likelihood of widespread liquidations, though price volatility and liquidity conditions remain relevant factors.
Support Level Under Watch
Analysts view $1 as the critical support level XRP must defend. If large wallet accumulation continues and broader market conditions stabilize, XRP could potentially move toward $1.10 to $1.15. A break below $1, particularly if accompanied by slowing wallet growth, could trigger additional selling pressure.
With leverage thinned, spot market buyers may exert greater influence on XRP's price direction, while conflicting flows between whale accumulation and ETF outflows will likely shape the token's near-term movement.
