Prominent XRP community member XRP Whale made waves on social media by declaring, “It is over for XRP,” as the cryptocurrency continued its sharp decline. The statement, accompanied by a rocket and moon emoji, sparked immediate debate within the community over its true meaning.
XRP price under pressure after US political shift
The latest round of price weakness for XRP began after the US midterm elections on November 3, in which Democrats secured control of both the House and the Senate. The election results contributed to heightened regulatory uncertainty and drove broader volatility in the cryptocurrency market.
XRP started election week trading near $1.32 but quickly slipped below the $1.21 support level, falling to $1.17 by November 7. The breach of support coincided with more than $10 million in leveraged long liquidations and a 12.36% drop in futures open interest.
Selling pressure persisted throughout the following days, with XRP recently trading around $1.03, approaching the psychological $1 threshold. Over the last month, the asset has fallen nearly 34% from levels near $1.55 in early October and has dropped 17% in the past week alone.
| Metric | Early October | Election Week | Recent |
|---|---|---|---|
| XRP Price | $1.55 | $1.32-$1.17 | $1.03 |
| Support Level Broken | N/A | $1.21 | $1.03 (testing $1) |
| Monthly Change | N/A | N/A | -34% |
| Weekly Change | N/A | N/A | -17% |
| Long Liquidations | N/A | $10M+ | N/A |
| Futures Open Interest | N/A | -12.36% | N/A |
Community divided over XRP Whale’s statement
The ambiguous tone of XRP Whale’s message left some followers speculating that the statement could mark a market bottom rather than a formal capitulation. Several community members suggested the use of optimistic emojis signaled the downside might have ended rather than XRP itself.
Although XRP Whale declared “It is over for XRP,” some in the community interpreted the message—and its rocket and moon emojis—as a possible signal of reversal, rather than the end of the asset’s prospects.
The comment section reflected a deep divide. Some users encouraged perseverance, stating that nothing was final unless the community agreed. Others indicated they were buying more XRP at these lower prices, while some expressed relief at having exited their positions earlier—even when doing so meant incurring heavy losses.
One user asserted that the recent volatility represented strategic positioning by large investors to push out smaller holders, suggesting that long-term investors would ultimately benefit. Meanwhile, another participant dismissed XRP Whale’s declaration as mere propaganda.
A more analytical voice argued that the current market conditions reflected a cyclical bottom, urging XRP Whale to acknowledge this developing trend.
Mini dictionary: XRP Whale is an influential account in the XRP community, known for sharing trading observations and sentiment, often impacting short-term market perceptions among retail traders.
$1 support level under threat
XRP has not traded below the $1 mark since August, making the current price action particularly notable among traders and analysts. With the asset hovering near $1.03 and overall sentiment fragile, the sustainability of the $1 support is now in question. Market participants view the coming trading sessions as especially important, as the outcome could set a new floor or turn $1 into a resistance level if the price declines further.
Markets are now focused on whether XRP can maintain the crucial $1 level as support or whether further declines will push the price lower, turning psychological barriers into new resistance.
