XRP News Today: ETF Launches Lag as XRP Faces Heavy Selling

XRP tumbled to its key psychological support level on Thursday, November 20, as selling pressure intensified across the broader crypto market.

XRP-spot ETFs failed to stem the selling wave, as Bitcoin (BTC) slumped to its lowest level since April 2025. XRP’s continued correlation with Bitcoin exposed the token to BTC-spot ETF flows, which have weighed on sentiment in November.

Prominent crypto commentator Quinten, with more than 200,000 followers, commented on the percentage of short-term holders being underwater, stating:

“2020 COVID crash, 92% in a loss at $3,750. 2020 FTX collapse, 94% in a loss at $16,000. Today, 99% in a loss at $89,000. This is the highest short term holder capitulation ever recorded.”

XRP-Spot ETFs Fail to Impress

Bitwise XRP ETF launched on Thursday, November 20, signaling robust institutional demand on its first day of trading. However, trading volumes came up short of the Canary XRP ETF’s (XRPC) $59 million on day one, weighing on sentiment.

Bloomberg Intelligence analyst James Seyffart commented on Bitwise XRP ETF’s first day of trading, stating:

“With a bit over ~2 hours left in trading, Bitwise’s $XRP is almost at $22 million in trading today. Quite impressive for the second product to market a full week after Canary Funds’ $XRPC, which is the #1 launch by volume this year.”

Analysts had previously speculated that Bitwise and Franklin Templeton would draw significantly more demand, given their rankings on the ETF issuer Assets Under Management league table.

According to VettaFi, Franklin Templeton ranks #19 on the ETF issuer Assets Under Management (AUM) league table, with $44.7 billion in AUM. Bitwise Asset Management ranks #56, with $5.6 billion in AUM. The first-to-market XRP-spot ETF issuer, Canary Capital, ranks #231, with $84.82 million in AUM.

However, market conditions are likely to have impacted trading volumes. For context, the US BTC-spot ETF market is facing net outflows of $3 billion in November.

There were no new market events to trigger Thursday’s sell-off. However, sentiment remains weak due to two key October events. The US government shutdown and President Trump’s threat of raising tariffs on Chinese shipments by 100% have sent XRP down 30% from October 1 to November 20. The only good news for XRP holders was the swift recovery from the October 10 flash crash to $0.7773.

Macro Pressures Deepen Losses

The Kobeissi Letter commented on the extended crypto sell-off, stating:

“The crypto collapse: On October 6th, just 45 days ago, Bitcoin hit a record high of $126,272, worth $2.5 trillion. Then, something “mechanical” seems to have shifted on October 10th, after President Trump threatened 100% tariffs on China. Not only did this lead to the record -$19.2 billion liquidation, but Bitcoin never truly recovered.”

The Kobeissi Letter noted:

“Even when the October 30th trade deal was reached between the US and China, liquidation pressures only worsened. Then, since November 10th, Bitcoin has moved in a literal straight-line lower with average daily liquidations nearing $1 billion. Throughout the course of this 45-day bear market, crypto has seen little to no bearish fundamental developments.”

The Kobeissi Letter attributed the 45-day bear market to excessive levels of leverage and sporadic liquidations, while highlighting that conditions will steady given market efficiency.

While the October 10 flash crash has spooked investors, fading bets on a December Fed rate cut have added to the selling momentum. FOMC members have raised concerns about elevated inflation, while downplaying a cooling labor market, suggesting a delay to further policy easing.

According to the CME FedWatch Tool, the chances of a December rate cut fell from 50.1% on November 13 to 39.1% on November 20. For context, the probability of a December cut stood at 98.8% on October 20. XRP has fallen 16.4% since October 20, reflecting the Fed’s influence on sentiment.

Crucially, the absence of key US economic reports has left XRP and the broader crypto market in a tailspin. Updated inflation and jobs data could change the narrative if inflation softens and the labor market continues to cool rather than collapse.

Technical Outlook: Key XRP Price Levels

XRP slid 5.17% on Thursday, November 20, following the previous day’s 4.94% loss, closing at $1.9985. The token underperformed the broader crypto market, which dropped 4.84%.

Thursday’s extended sell-off left the token trading well below the 50-day and 200-day Exponential Moving Averages (EMAs), affirming bearish momentum.

Looking ahead, several events could trigger a shift in sentiment, potentially sending XRP toward $2.5.

Key technical levels to watch include:

• Support levels: $2.0, $1.9112, and $1.6147.
• 50-day EMA resistance: $2.4332.
• 200-day EMA resistance: $2.5455.
• Resistance levels: $2.2, $2.35, $2.5, $2.62, $2.8, $3.0, and $3.66.

Catalysts to Watch in the Sessions Ahead

Near-term price catalysts include:

• US Services PMI data.
• Fed speakers and policy signals.
• Canary XRP ETF and Bitwise XRP ETF flows.
• Blue-chip companies’ positions on XRP as a treasury reserve asset.
• Regulatory milestones: Ripple’s application for a US-chartered bank license, the progress of the Market Structure Bill on Capitol Hill.

Bearish Scenario: Risks Below $2.0

• Strong US PMI data cools bets on a Fed rate cut.
• Hawkish Fed speakers.
• XRP-spot ETFs report net outflows.
• The US Senate opposes crypto-friendly legislation, including the Market Structure Bill.
• Blue-chip companies dismiss XRP as a treasury reserve asset.
• OCC delays or rejects Ripple’s US-chartered bank license.

These bearish scenarios could push XRP toward $2.0. If breached, $1.9112 would be the next key support level. A break below $1.9112 could expose the April low of $1.6147. Notably, XRP has been printing lower highs and lower lows, signaling further losses.

Bullish Scenario: Path to $2.5 Remains Challenging

• Weak Services PMI data.
• Dovish Fed speeches.
• XRP-spot ETFs report strong inflows.
• Blue-chip companies target XRP as a treasury reserve asset.
• Ripple secures a US-chartered bank license, and the US Senate passes the Market Structure Bill.

A breakout above the $2.2 resistance level could open the door to testing $2.35. A sustained move through $2.35 would pave the way toward the 50-day EMA, with $2.5 the next key resistance level. Buyer demand at $2.0 will be crucial over the coming sessions.

Outlook: $2.0 Remains the Pivotal Level

The absence of key US data and Fed policy uncertainty continue to weigh on market sentiment.

However, robust demand for XRP-spot ETFs could support a price recovery, potentially driving the token towards $2.2. The launch of the Franklin XRP ETF on Monday, November 24, could prove pivotal, given Franklin Templeton’s prominence in the ETF space.

The next 72 hours could determine whether XRP extends its losses or begins a recovery toward $2.5. XRP-spot ETF flows will be crucial if the token is to begin decoupling from BTC.