Key Takeaways:
- XRP drops below $2.0 amid broader market declines.
- The $1.7 support level could be tested if the downturn continues.
- XRP’s trading volume surges, indicating potential repositioning in the market.
XRP is experiencing a significant downturn, slipping below the crucial $2.0 psychological level and reaching $1.98 in the latest market correction. Over the last 24 hours, the price of XRP has fallen by 7.5%, reflecting broader bearish momentum in the cryptocurrency market. With Bitcoin and Ethereum also under pressure, XRP is facing challenges in maintaining its previous support levels, with traders now eyeing the $1.7 level for potential rebound support.
XRP’s Struggle Amid Broader Market Weakness
The broader cryptocurrency market is witnessing one of its worst months, as over $120 billion has been wiped off the market in just 24 hours. Bitcoin has fallen below $87,000, and Ethereum dipped below $2,800, contributing to XRP’s decline. The XRP/USD pair has been particularly impacted, having failed to break past the $2.16 resistance level and subsequently losing the $2.0 support.
XRP’s market cap has dropped below $120 billion, marking a significant decline since its recent highs. Despite this, the trading volume surged by 28.44%, indicating that some investors are repositioning, possibly to buy the dip. The Fear and Greed Index reflects extreme fear, registering a score of 11, which suggests heightened uncertainty among market participants.
Meanwhile, Bitwise launched its spot XRP ETF on the NYSE on November 20, 2025, under the ticker XRP. Ripple CEO Brad Garlinghouse highlighted the event as the start of a “pre-Thanksgiving rush” for XRP products. Bitwise CIO Matt Hougan expressed excitement about the milestone for the asset and its community.
Key Support Levels and What Traders Can Expect
As XRP moves lower, analysts are watching the $1.7 level closely. If the coin fails to hold the $1.78 support level established on October 6, the price may continue to slide toward $1.62, the next critical support level. However, if XRP manages to regain some bullish momentum, a recovery toward the $2.2 level is possible, provided the $2.0 barrier can be reclaimed.
For XRP to have any chance of a short-term rebound, it will need to overcome the $2.0 resistance. However, with the general market trend remaining bearish, many investors are bracing for further downside risk. This could potentially take XRP below the $1.7 support, making the outlook for the short term somewhat bleak unless a strong catalyst appears.
