XRP News Today: XRP Holds Key Support While Fed Hawks Hit Crypto

FOMC members downplayed the chances of a December Fed rate cut on Friday, November 14, sending XRP lower for a fourth consecutive day.

Bitcoin (BTC) led the broader market lower, crashing to a six-month low of $93,942. Two consecutive days of BTC-spot ETF outflows set the tone for the Friday session. A lack of key US inflation and jobs data left traders and the Fed flying blind on the US economy’s path.

Crypto market trends contrasted sharply with US indices. While BTC and XRP have fallen 3.05% and 8.05% in the week, the Nasdaq Composite Index closed the week with a modest 0.45% loss. BTC’s heavier losses, in particular, highlighted the effects of market volatility on a highly leveraged asset class.

Despite the negative sentiment, XRP found much-needed support with the debut of the Canary XRP ETF (XRPC) on Wall Street.

Crypto and the Fed Collide

Fed speakers took the spotlight from Canary Funds’ XRP-spot ETF on Friday, November 14, weighing on XRP and the broader market.

FOMC alternate member Lorie Logan poured cold water on interest rate cut bets, stating that she would oppose a December cut. The Dallas Fed President joined a chorus of FOMC members focusing on elevated inflation rather than the cooling labor market.

Voting member Jeffrey Schmid held a similar view, stating that inflation was too high and that rate cuts would not address labor market weakness.

The CME FedWatch Tool reflected shifting sentiment toward the Fed rate path. The chances of a December Fed rate cut slid from 66.9% on Friday, November 7, to 44.4% on Friday, November 14. Notably, the probability of a December cut stood at 94.4% one month earlier.

Calls to delay further monetary policy easing led to $1.15 billion in BTC-spot ETF outflows on Wednesday, November 12, and Thursday, November 13. Outflows sent BTC below the crucial $100,000 psychological support level, weighing on the broader market.

XRP Stands Out from the Pack as Canary XRP ETF Passes Litmus Test

Despite a four-day losing streak, XRP suffered modest losses relative to its top-10 peers. For context, Solana (SOL) has tumbled 13.34% in the week ending Sunday, November 16, while Ethereum (ETH) has dropped 11.37%.

Canary XRP ETF (XRPC) reported net inflows of $245 million on Thursday, November 13, its first day of trading. Market commentator Chard Steingraber commented on XRPC’s first day of inflows, stating:

“If you’re still asking why it didn’t affect the price, understand how the ETF process works. Tomorrow (T+1), the Net Inflows will be handed over to purchase the asset. What I’m saying is, the ETFs are about to start going on a buying spree that will not stop once they start.”

Steingraber shared the details of how net inflows work, which stated:

“Capital allocation: The money from the sale of these new ETF shares is given to the ETF sponsor, who then uses that capital to purchase more of the underlying asset.”

Crucially, XRPC passed the crypto market’s litmus test, with day one of net inflows topping the ETF table for 2025.

NovaDius Wealth Management President Nate Geraci commented on the success of crypto-spot ETFs, stating:

“Pretty much every single spot crypto ETF launched has “significantly” exceeded tradfi expectations… There’s a lesson in that. Still a “ton” of skepticism from the hold guard tradfi. But investors voting w/ actual $$$ are what matter. Top ETF launches last 2yrs dominated by crypto.”

Franklin Templeton and Bitwise XRP ETF Launches Loom

As markets await XRPC’s numbers for day two, focus will begin shifting to the imminent launch of Bitwise and Franklin Templeton’s XRP-spot ETFs. According to VettaFi, Franklin Templeton is the 19th largest ETF issuer by assets under management, with Bitwise ranking #56.

These market behemoths could see far more significant demand, potentially decoupling XRP from the broader market. For context, Canary Capital ranks #238 by AUM. Crucially, a marquee ETF name could snag a key investor, such as a US Ivy League school or a sovereign wealth fund.

BlackRock’s (BLK) iShares Bitcoin Trust (IBIT) has some big names on its investor list. One notable investor is the Harvard Endowment Fund, the world’s largest academic endowment, with a $442.885 million investment in IBIT.

Bloomberg Intelligence Senior ETF analyst Eric Balchunas shared Harvard Endowment’s investment portfolio, stating:

“Just checked and yeah IBIT is now Harvard’s largest position in its 13F and its biggest position increase in Q3. It’s super rare/difficult to get endowment to bite on an ETF – esp a Harvard or Yale, it’s as good a validation as an ETF can get. That said, half a billion is a mere 1% of total endowment. Big enough to rank 16th among IBIT holders tho.”

Franklin Templeton XRP ETF and Bitwise XRP ETF are set to launch on November 18 and November 19/20, respectively.

Technical Outlook: Key XRP Price Levels

XRP slid 3.37% on Friday, November 14, following the previous day’s 2.69% loss, closing at $2.2444. The token outperformed the broader crypto market, which tumbled 4.14%.

Four consecutive days of losses left XRP trading well below the 50-day and 200-day Exponential Moving Averages (EMAs), signaling bearish momentum.

However, several events could fuel a trend reversal, potentially sending XRP toward $3.

Key technical levels to watch include:

• Support levels: $2.2, $2.0, and $1.9.
• 50-day EMA resistance: $2.5219.
• 200-day EMA resistance: $2.5725.
• Resistance levels: $2.35, $2.5, $2.62, $2.8, $3.0, and $3.66.

Catalysts to Watch in the Sessions Ahead

In the near term, several key scenarios will likely influence price trends:

• XRP-spot ETFs flows, Franklin Templeton and Bitwise XRP ETFs (launches or delays), and BlackRock’s stance on an iShares XRP Trust.
• Blue-chip companies’ demand for XRP as a treasury reserve asset.
• Regulatory milestones: Ripple’s application for a US-chartered bank license, the Market Structure Bill’s progress on Capitol Hill.
• SWIFT-related developments.

Bearish Scenario: Risks Below $2.2

• XRP-spot ETFs report net outflows.
• Franklin Templeton and Bitwise XRP-spot ETF launches face delays.
• BlackRock downplays plans for an XRP-spot ETF.
• 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.
• SWIFT maintains its market share in the global remittance sector, limiting Ripple’s market access.

These bearish events could push XRP toward $2.2, bringing the lower trendline into play. If breached, $2 would be the next key support level.

The descending channel showed XRP failed to break above the upper trendline in early October. October’s failed breakouts led to lower highs and lower lows, a bearish indicator. However, XRP found crucial support at the lower trend line in early November. Lower trendline support will be critical; a break below the lower trendline could bring the $2 psychological support into play. See the chart below for reference.

Bullish Scenario: Path to $3 Remains Challenging

• XRP-spot ETFs report inflows.
• Franklin Templeton and Bitwise launch XRP-spot ETFs.
• BlackRock files an S-1 for an iShares XRP Trust.
• Blue-chip companies boost XRP holdings for treasury reserve purposes, and Main Street firms adopt Ripple technology.
• Ripple secures a US-chartered bank license, and the US Senate passes the Market Structure Bill.

A break above the $2.35 resistance level could open the door to testing $2.5. A sustained move through $2.5 could pave the way toward the 50-day and 200-day EMAs. A break above the EMAs could bring the $2.62 resistance level into play, with the upper trendline being the next key resistance level.

Outlook: Near-Term Structure Turning Bullish

Falling bets on a December Fed rate cut have left XRP in the red for the week. However, institutional demand for XRP-spot ETFs could change the narrative. Strong inflows would tilt the supply-demand balance firmly in XRP’s favor, potentially triggering a rebound toward $3.

Meanwhile, traders should closely monitor the Market Structure Bill’s progress on Capitol Hill, another potential price catalyst.

The next week could decide whether XRP finally decouples from Bitcoin.