CryptoGlobal

XRP falls below $1 as ETF outflows hit an eight-month high

XRP fell below $1 as outflows from XRP exchange-traded funds reached an eight-month high, in a crypto market showing extreme fear. Heavier selling and weaker fund demand are putting pressure on the price.

Illustration: A row of round tokens in pink, teal and yellow overlap slightly, printed with bold simple shapes.
Illustration

XRP was trading at $1.01 at the time of writing, down 0.8%, after slipping below $1 amid extreme fear across the crypto market. Trading volume rose 26% to $2.46 billion, according to CoinMarketCap, a data service, and that jump was likely driven by sellers.

Exchange balances, the coins held on trading platforms, point to the same pressure. More than 300 million XRP coins sat on exchanges, and a separate count put the figure at 335 million.

XRP$0.9483down −28.89%over 1 month
$1.37$0.913716 Oct15 Nov

Prices by CoinGecko. Past moves say nothing about future ones.

Demand through XRP exchange-traded funds, known as ETFs, a type of fund that trades like a stock and holds the underlying asset, has also weakened. Outflows from these funds reached their highest level in eight months. One analysis flagged the risk of a 20% drop, toward $0.80.

$1,000 in XRP

Had you put $ into XRP a month ago, it would be worth – now.

From the prices in the chart, before any fees or taxes. Not a suggestion to buy or sell.

Background

Bitcoin also slipped below $69,000 for the first time since mid-August, as several pressures hit the same week.

GuideCrypto Fear and Greed Index today: how fearful or greedy the crypto market is

Where
Global
Published
Updated
Section
Crypto
Markets
XRP

This article is not investment advice. It was written by our automated newsroom from published reports and official statements, using only the facts in them, and not read by a person before it was published. Report a mistake

Back to the front page

More news

Illustration: A single glossy physical bitcoin coin showing the Bitcoin logo, tipped over on its edge on a smooth coral surface in soft daylight.CryptoBitcoin falls near $63,000 as crypto liquidations pass $1.9 billionBitcoin slid about 13% over the week and moved toward $63,000 as weekend selling went on. Liquidations passed $1.9 billion and crypto ETFs lost $1.5 billion, hitting investors across the market.Bitcoindown −22.13%1 monthIllustration: A busy airport apron at dusk with rows of unbranded passenger jets parked nose to tail at their gates, baggage carts standing idle and the tarmac empty of any plane moving.EconomyFAA ground stop halts US flights, leaving thousands canceledThe FAA halted departures across the country on Friday for more than four hours. The agency blamed a malfunction linked to an upgrade of its telecoms network, and the halt has since been lifted.Illustration: A cream paper phone lying on a teal paper desk, its screen showing the Nvidia logo, with a single empty folded-paper office chair behind it.CompaniesNvidia CEO Jensen Huang exits after affair allegationsNvidia chief executive Jensen Huang resigned after allegations of extramarital affairs, including one involving a suspected Chinese spy. Investors are weighing what his exit means for the chipmaker and the wider AI industry.NVIDIAdown −26.41%1 monthIllustration: A large brass key lying in a lock on a wooden door, seen at eye level in warm morning light, with the door slightly ajar.EconomyBank of England chief economist expects more interest rate risesHuw Pill, the Bank of England's chief economist, expects the bank to raise its key rate again soon to fight rising inflation. Households with mortgages due for renewal next year are likely to face higher payments.Illustration: Confetti falling over a trading floor while small figures raise their arms, in pink, teal and yellow.CompaniesAnthropic IPO draws Wall Street banks and everyday investorsDemand for Anthropic's public offering is about six times the shares on offer, while Wall Street banks pitch and everyday investors prepare to join. Bitcoin fell below $69,000 amid worries that holders might cash out to pay for the deal.Bitcoindown −22.13%1 monthIllustration: The columned stone front of a central bank building with wide steps, carved in black lines with one emerald accent, seen from far away.EconomyBond yields climb as traders bet on more Fed rate hikesBond yields rose and the dollar climbed further as traders bet on more Fed rate hikes. Goldman Sachs expects two more hikes before any cuts, a move that means higher borrowing costs.US 10-year Treasury yielddown −0.69%1 month