XRP▼$1.19 fell 9.8% over 24 hours to $1.18 on November 6, 2026, as the XRP price falls to an 11-week low, its weakest level since August 22, after a short-lived rebound to $1.35. According to CoinGecko, its market capitalization stood at roughly $75 billion at 07:40 UTC.
The reversal came during a broader cryptocurrency selloff. Weak demand for XRP exchange-traded funds offered little support, while analyst Ali Martinez’s bullish observations about exchange withdrawals and large-holder balances failed to translate into a lasting recovery.
Contents
- XRP Falls to an 11-Week Low After Reaching $1.35
- The Analyst and ETF Signals Behind the XRP Debate
- October’s ETF Strength Gives Way to a Failed Breakout
- XRP’s $75 Billion Valuation and the Scale of the Reversal
- Risks to XRP’s Bullish Holder and Chart Signals
- Separate XRP News: Lending Proposal Gains Validator Support
- What to Watch for XRP in November 2026
- FAQ
XRP Falls to an 11-Week Low After Reaching $1.35
How Did the Rebound Unravel?
XRP reached $1.35 about 36 hours before Friday morning’s selloff coverage. The advance briefly put the token above the $1.28 level that Martinez had identified as an important condition for further gains.
Related: Aviva Backs Tokenized Fund Share Class on XRP Ledger With £50M
That strength did not last. XRP subsequently lost $1.30, broke below $1.20 and then slipped under $1.185, revisiting territory last seen during the August 22 crash.
The move left XRP roughly 13% below its recent $1.35 rebound high. For holders watching the recovery, the important sequence was the failure to retain successive price levels—not simply the initial move above the analyst’s breakout threshold.
What Happened Across the Wider Market?
Bitcoin was rejected at $81,000 and fell to $75,000, with most altcoins following it lower. The gains recorded across markets on Wednesday afternoon had disappeared about a day later.
XRP was the weakest performer among the largest 30 altcoins during the selloff, according to CryptoPotato. That placed its reversal within a broad retreat while highlighting the severity of its own losses.
The Analyst and ETF Signals Behind the XRP Debate
What Was Ali Martinez Watching?
Martinez’s bullish case began with a technical condition: a close above $1.28 could open the way to further gains. He discussed that setup while XRP was trading around $1.25, before the brief advance to $1.35.
His subsequent observations extended beyond the chart. He pointed to more than 13 million XRP withdrawn from exchanges and a 60 million XRP increase in whale holdings over a week, describing the measures as evidence of growing interest among large holders.
The distinction matters to the outlook. His thesis combined a price condition with holder behavior; the subsequent rejection weakened the price-based part of that case even as the holder figures he cited remained bullish in his interpretation.
Who Was Tracking XRP Fund Demand?
SoSoValue was the provider cited for the XRP ETF activity figures. Those figures described a subdued opening to November rather than a fresh source of buying support during the token’s attempted recovery.
The funds had been among the few in positive territory in October. They then began November with a mildly negative Monday, followed by no activity on Tuesday, Wednesday or Thursday.
That sequence gave investors a separate demand signal to assess alongside Martinez’s holder observations. Large-holder interest and ETF activity pointed to different parts of the market, with the latter offering little help as prices weakened.
October’s ETF Strength Gives Way to a Failed Breakout
Why Did the Change in Fund Activity Matter?
October’s positive ETF performance had provided a more constructive backdrop for XRP. The quiet start to November removed that source of momentum just as the token attempted to build on its rebound.
Weak fund demand may have left the recovery with less support, but the broader cryptocurrency selloff remained the clearest immediate backdrop. The ETF figures describe a possible contributing factor, not a standalone explanation for the entire decline.
How Did the Technical Setup Change?
Martinez also described what he considered the right shoulder of a potential inverse head-and-shoulders bottom. His interpretation put $1.60 in view, with $2.10 conditional on a break above $1.60.
The rejection after $1.35 turned attention back toward the levels XRP had just lost. Instead of building on the proposed breakout, the token fell through $1.30 and $1.20.
Those higher figures remain Martinez’s conditional technical targets. They are not the same as the observed rebound high, and the selloff left the bullish pattern facing a substantial price reversal.
XRP’s $75 Billion Valuation and the Scale of the Reversal
How Large Was the Setback From $1.35?
At $1.18, XRP would need a gain of about 14% to return to $1.35. The recovery required is larger than the roughly 13% decline from that high because it starts from a lower price.
The nearer levels are less distant: $1.20 sits about 2% above $1.18, while $1.30 is roughly 10% higher. Those figures put the lost price levels in perspective without treating a return to either as assured.
A move back through $1.28 would require roughly 8%. That is the level attached to Martinez’s earlier closing-price condition, rather than a new target generated by the November 6 decline.
How Did XRP Compare With BNB?
XRP’s roughly $75 billion capitalization stood below BNB▲$694.83’s approximately $90 billion valuation in the selloff coverage. The difference was about $15 billion.
The comparison captures the gap between the two assets’ valuations as XRP weakened. For this story, the more immediate issue remains XRP’s failure to retain its rebound while the wider altcoin market retreated.
Risks to XRP’s Bullish Holder and Chart Signals
Why Did Accumulation Fail to Sustain the Recovery?
Martinez interpreted exchange withdrawals as reducing the XRP immediately available to sell. He separately highlighted the weekly rise in whale balances as another constructive signal.
Yet XRP continued lower after those observations. For holders, the risk is relying on a favorable supply-side interpretation while price action and other sources of demand move against it.
The 13 million XRP withdrawal figure and the 60 million XRP balance increase describe separate movements. They should not be combined into a single accumulation total or treated as a unified measure of buying.
What Could Undermine Another Rebound?
Continued weakness across bitcoin and altcoins would leave XRP facing the same market pressure that accompanied this reversal. Persistently inactive ETFs would also leave the recovery without the fund-demand support seen in October.
The failed move above $1.28 adds a technical risk: briefly crossing a level is different from sustaining the close and follow-through envisaged in Martinez’s thesis. The next attempt would come after XRP had already surrendered both $1.30 and $1.20.
Conversely, renewed fund activity and a sustained recovery through the lost levels would give investors more constructive developments to assess. Neither requires assuming that the analyst’s higher targets will be reached.
Separate XRP News: Lending Proposal Gains Validator Support
How Close Is XLS-66 to Approval?
A separate XRP Ledger development concerned the proposed Lending Protocol, known as XLS-66. The amendment had reached 23 Yes votes among 35 trusted validators, leaving six more votes needed to reach the stated 29-validator threshold.
XRPL validator and community member Vet, identified as @Vet_X0, had highlighted additional support for the proposal. This is a network-governance development, separate from the market and ETF activity surrounding XRP’s fall.
Approval would not produce an immediate launch. The required supermajority must persist through a mandatory two-week activation period, with at least 80% validator support.
What Would the Lending Proposal Introduce?
XLS-66 would introduce native fixed-term, non-collateralized lending for qualified borrowers. Funds would be pooled through Single Asset Vaults and lent under agreed terms.
The proposal could give financial institutions and other participants a way to put assets to work on the ledger rather than only hold or transfer them. Depositors could potentially earn interest, with returns dependent on actual lending activity and risk.
The lending design also places importance on borrower evaluation because the loans would not rely on excess cryptocurrency collateral. It is a proposed lending opportunity with credit risk, not a guaranteed-return product.
What to Watch for XRP in November 2026
Which Market Developments Matter Next?
The immediate market questions center on whether XRP can recover its lost price levels and whether ETF demand resumes after the inactive sessions. A stronger broader market would also change the conditions that accompanied the fall to an 11-week low.
Martinez’s $1.60 scenario would require a gain of roughly 36% from $1.18. His conditional $2.10 level is roughly 78% higher, underscoring how far those bullish scenarios sit above the current price.
For now, the nearer test is whether another recovery can hold rather than repeat the rejection at $1.35. The November 6 move shifted attention away from ambitious upside projections and back toward the levels surrendered during the selloff.
What Remains Ahead for XRPL Lending?
The lending proposal’s next milestone is additional validator approval, followed by the required activation period. None of the amendments discussed in the lending coverage had reached supermajority.
A separate amendment, LendingProtocolV1_1, had 21 Yes votes. Its changes include closed-ended vaults and updated interest accounting; its vote count is distinct from the main Lending Protocol tally.
These proposals offer a longer-term network-development angle for XRP holders. Their progress should be assessed on validator support and eventual lending activity, rather than treated as an explanation for Friday’s price move.
FAQ
When Did XRP Last Trade Below $1.185 Before This Decline?
The previous occasion identified in the selloff coverage was the August 22 crash. November 6 brought XRP back below that level, establishing the 11-week-low comparison.
Which Price Levels Did XRP Lose After Reaching $1.35?
The reversal first carried XRP below $1.30 and then below $1.20. By 07:40 UTC on November 6, it traded at $1.18, beneath both levels.
What Is the Difference Between the 13 Million and 60 Million XRP Figures?
The first refers to XRP withdrawn from exchanges, while the second describes a weekly increase in whale holdings. Martinez cited them as distinct signs of large-holder interest, rather than a combined purchase total.
What Roles Would Depositors, Loan Brokers and Borrowers Have Under XLS-66?
Depositors would supply assets to a vault, and loan brokers would evaluate borrowers and arrange lending deals. Borrowers would receive funds and repay them according to an agreed schedule.
Does Reaching the Validator Threshold Activate XRPL Lending Immediately?
Reaching the stated 29-validator threshold would begin the mandatory two-week activation process rather than launch the upgrade immediately. Support must remain at or above the required supermajority during that period.
How Does LendingProtocolV1_1 Differ From the Main Lending Vote?
LendingProtocolV1_1 covers additional changes such as closed-ended vaults and revised interest accounting. It had 21 Yes votes, compared with 23 for the main Lending Protocol amendment.
This article is for information only and is not financial advice.