XRP Price News: XRP Hits $2 as Bitwise Prepares to Launch ETF

XRP (XRP) has finally succumbed to the $2 level and has lost a key horizontal support that had kept bears at bay in the past few days.

The market does not seem to be ready to throw in the towel on the latest wave of panic-selling. XRP has shed 2.4% of its value in the past 24 hours alone, dropping to $2 exactly.

Trading volumes have jumped by 40% during this period, currently accounting for 5.5% of the token’s circulating market cap.

Crypto long liquidations have spiked once again as top tokens like Bitcoin (BTC) and Ethereum (ETH) have dropped below key psychological support areas.

Crypto Liquidations – Source: CoinGlass

According to CoinGlass, a total of $700 million worth of long positions have been wiped out during this short period, pushing the amount of liquidations in November 2025 to more than $9 billion.

Bitwise Prepares to Launch Its Spot ETF

The downturn occurs as a flood of altcoin-linked exchange-traded funds (ETFs) has hit the market.

Bitwise is the latest in a growing list of asset management firms to launch an XRP ETF. This vehicle will hit the trading floor today. This firm already has a successful ETP called Bitwise Physical XRP ETP.

This vehicle currently manages $235 million in assets. Alongside Canary Capital’s recently launched spot ETF for XRP, and REX-Osprey’s hybrid fund, the amount of assets in XRP-linked ETFs has easily surpassed the $700 million mark.

Apart from this, various companies have set up digital asset treasuries (DATs) designed to hold XRP. The most prominent of those is Evernorth, a company that poured $1.2 billion into the token already.

XRP Hits Key Trend Line Support

The daily chart shows that XRP has hit a key trend line support today as it hit $2. This level has acted as a bouncing pad for the token multiple times in the past, but the selling pressure seems quite strong at the time.

XRP/USD Daily Chart (Binance) – Source: TradingView

The Fear and Greed Index has plummeted to 15 today, this being the lowest level this sentiment gauge has reached in a year. The last time investors got this scared, XRP dropped to a session low of $1.6 but quickly bounced back and started to recover. Just a few months later, it reached $3.5.

So, XRP could drop even further, but panic seems to be already getting to extreme levels. This could be an interesting price zone to buy if one expects that the recovery will start. However, if the token loses the $2 support, it could still drop another 12.5%

Considering the risk-reward ratio at this point, with the $1.75 level as the stop loss, this is not a bad trade to make. If XRP recaptures the $3 level a few months from now, that would mean a 50% upside potential for a 4:1 risk-reward ratio.

Institutional adoption is at a high point right now as these crypto ETFs have brought in millions. The market is tanking due to macroeconomic reasons primarily, and Trump’s ongoing rift with China.

When fear takes over, it is usually the best time for buyers to enter the scene.