XRP dropped to about $0.89, its lowest level since November 2024, extending a decline that has erased roughly 36% of its value this quarter. The move comes as investors withdraw capital from XRP-focused exchange-traded products and the supply of major dollar-backed stablecoins shrinks.
The token has struggled to recover since climbing above $3.60 in July 2025. Its latest slide has unfolded alongside broader weakness in digital assets, with Bitcoin and Ethereum also retreating to price levels last recorded in August.
XRP Falls to Lowest Level Since November 2024
According to the report, XRP briefly traded at $0.89, marking its weakest price since November 2024. The decline extends a downward trend that began after the July 2025 peak above $3.60.
The roughly 36% quarterly loss reflects a wider deterioration in sentiment across cryptocurrency markets. Because Bitcoin and Ethereum have fallen in tandem, XRP's weakness appears to be part of a broader market correction rather than an isolated event.
The performance also illustrates the pressure on altcoins when investors reduce exposure to riskier digital assets. As confidence weakens, capital becomes more selective, which weighs on cryptocurrencies that rely on fresh buying demand to support valuations.
Spot XRP ETF Outflows Reach Highest Level Since March
Redemptions from investment products tracking XRP have added to selling pressure. US-listed spot XRP ETFs recorded approximately $19.13 million in net outflows during the week ending November 13, according to SoSoValue data cited in the report. That was the largest weekly withdrawal from the products since March.
Despite the recent outflows, the ETFs have attracted approximately $1.5 billion in cumulative net inflows since they launched in November 2025. The figure underscores the initial demand for the products, though their inflows remain modest compared with Bitcoin and Ethereum ETFs, suggesting institutional exposure to XRP is considerably smaller.
ETF flows remain a closely watched indicator of investor demand. Sustained withdrawals can signal weakening confidence and may reduce the buying support available to the underlying asset.
Stablecoin Market Value Contracts
Pressure extends beyond ETF flows. The combined market capitalization of USDT from Tether and USDC from Circle, the two largest dollar-pegged stablecoins, has fallen to approximately $244 billion, down from around $260 billion. The contraction has accelerated over the past seven weeks.
Blockchain analytics firm Glassnode reported that stablecoin supply decreased by approximately $17 billion over the previous month, a decline analysts described as the steepest monthly drop since 2022.
Stablecoins play a central role in crypto markets: traders use them to hold dollar-linked value, move funds between platforms and purchase other digital assets. A shrinking stablecoin supply can therefore indicate that capital is leaving the crypto ecosystem rather than staying available for future investment. When investors convert stablecoins into traditional currencies, the liquidity potentially available to support cryptocurrency purchases can also decline.
What Comes Next
XRP's move below $0.90 reflects the combined effect of softer investor demand, ETF redemptions and reduced liquidity across the cryptocurrency market.
The token's direction will depend in part on whether capital begins returning to digital assets. A reversal in XRP ETF flows and renewed growth in stablecoin supply could signal improving investor confidence.
For now, the available data points to a difficult environment: XRP is trading at levels last seen in November 2024, while the contraction in stablecoin capitalization suggests the amount of capital circulating through the sector is also declining. A sustained recovery may require more than a temporary improvement in XRP's price, with broader liquidity conditions and renewed institutional demand likely to remain important factors.
