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The price of XRP fell below $1 on Friday for the first time since mid-August, according to TradingView. The cryptocurrency dropped to $0.9974, and it has now closed in the red for nine days in a row. At the start of November, XRP was trading at $1.30. On Saturday, the price of XRP stands at $1.025.
In the autumn, the price of XRP reached a peak near $1.60, and the cryptocurrency has lost almost 38% since then. Still, the drop has not pushed XRP out of its range on the weekly chart. The lower weekly Bollinger Band is at $0.90, and XRP is still trading above it, so the cryptocurrency is not in free fall, according to the indicator.
The latest decline comes amid a sell-off in U.S. tech stocks after Jensen Huang resigned as Nvidia CEO. Traders are also betting on a December Fed rate hike after the October U.S. inflation data, according to CME FedWatch. Bitcoin fell below $70,000 on Friday, and most altcoins went down as well.
XRP ETFs record outflows
Spot XRP ETFs in the U.S. have also seen outflows this week. According to SoSoValue, the funds lost $10.42 million on Nov. 9 and $7.62 million on Nov. 10, and they had no flows on Nov. 11 and Nov. 12. By Nov. 13, spot XRP ETFs recorded net outflows of $18.04 million.
The total net assets of spot XRP ETFs stood at $1.16 billion as of Nov. 12, down from $1.51 billion on Oct. 28. Since launch, the cumulative net inflow of the funds stands at $1.79 billion. The Bitwise XRP ETF remains the largest of the five funds, and its net assets stand at $420.29 million.
XRP whale wallets reach 2026 high
According to Santiment, the number of wallets holding at least 10,000 XRP went up by 2,260 over the past 30 days. The number of wallets with 1 million XRP or more stood at 2,147 as of Nov. 13, and Santiment data shows that it is the highest number of such wallets in 2026.
On Aug. 14, the price of XRP fell to $0.986, according to TradingView, and it was the last time XRP traded below $1 before this week.