XRP faced significant price pressure over the weekend, recording a sharp decline as liquidations intensified. By the end of the latest 24-hour period, XRP dropped 3.43% to $0.969, registering a weekly loss of 17% amid accelerating selling activity across derivatives and spot markets.
CoinGlass highlights three bearish market indicators
CoinGlass, a leading onchain data analytics platform, identified three primary factors driving the XRP downturn. Its review, based on recent trading volumes in futures, spot, and ETF markets, illustrates increasing bearish sentiment and weakened market structure.
The first and most notable factor is a ‘long squeeze,’ in which a rapid price decline triggers forced selling among traders who had bet on XRP rising. CoinGlass reported that XRP long liquidations reached $43.17 million in the past 24 hours, representing about 91% of total liquidations in that timeframe.
CoinGlass observed that XRP long positions suffered the largest impact during the sharp decline, as $43.17 million worth of liquidations swept through the market in just one day.
Secondly, market participants have cut back on exposure as open interest—the total value of outstanding derivative contracts—dropped 5.53% to $2.03 billion. This reduction mainly reflects the closing of long positions as traders seek to control risk.
A third negative signal is emerging in perpetual futures markets, where XRP funding rates turned negative at -0.0082%. In such circumstances, traders holding short positions pay funding to those with long positions, indicating that market sentiment has shifted towards further downside.
Mini dictionary: CoinGlass is a crypto analytics and data platform that provides real-time information on derivatives, liquidations, and funding rates across major crypto exchanges, assisting traders in making data-driven decisions.
Technical outlook and key support levels
XRP continued its losing streak for 10 consecutive days from November 5 to November 14, 2026. The price lost momentum after falling below its 200-day moving average at the end of October. In early October, XRP also slipped below the 50-day moving average, further weakening bullish prospects.
Technical analysts highlighted that the daily relative strength index (RSI) for XRP has moved into oversold territory, suggesting that a relief rally could develop. Should such a move occur, possible recovery targets include the daily 50- and 200-day moving averages, currently at $1.25 and $1.30, respectively. If the downtrend persists, analysts expect XRP to find next support near $0.77.
Broader market trends and liquidity impact
The recent contraction in stablecoin supply has also contributed to declining crypto prices. According to Glassnode, a blockchain data provider, the total stablecoin supply fell by $17 billion in the past month, marking the most pronounced drop since 2022. Analysts noted that stablecoin holders converting to fiat curbs liquidity and reduces the overall purchasing power for assets such as Bitcoin and other cryptocurrencies.
Glassnode analysts stressed that the rapid outflow from stablecoins directly impacts crypto market liquidity, weakening buying power for assets like BTC and XRP.
| Indicator | Latest Value | Change (24h) |
|---|---|---|
| XRP Price | $0.969 | -3.43% |
| XRP Weekly Change | -17% | — |
| Long Liquidations | $43.17 million | 91% of total |
| Open Interest | $2.03 billion | -5.53% |
| Stablecoin Supply | — | -$17 billion (monthly) |
Looking ahead, Bitwise CEO Matt Hougan commented on the overall crypto market outlook, stating that “there will be a big buying opportunity at some point, but it’s hard to say when.” Market participants will monitor if liquidity and demand return in the near term.
