Gemini, a major American cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has detailed the largest altcoin losses amid the current market downturn. The exchange’s recent analysis identified the top four digital assets with the steepest declines since the start of 2026.
Altcoin losses top 60% in market downturn
Bitcoin Cash (BCH) leads the losses, with a 61.76% decline, while XRP follows with a 43.43% drawdown. Solana (SOL) and Hedera (HBAR) are also among the affected, registering drops of 34.02% and 38.13% respectively. These figures reflect the effects of a volatile market, where the total crypto market capitalization hovered near $2.5 trillion as of November 11, 2026. Bitcoin’s dominance over the market stands close to 60%.
| Asset | Drawdown since 2026 (%) |
|---|---|
| Bitcoin Cash (BCH) | 61.76 |
| XRP | 43.43 |
| Hedera (HBAR) | 38.13 |
| Solana (SOL) | 34.02 |
Multiple factors have contributed to this trend, including lower market liquidity, decreased speculative trading activity, weak institutional inflows, and broader macroeconomic headwinds. Some market participants suggest that the current environment might set the stage for a recovery if retail investors and large-scale institutional players re-enter the market.
XRP’s ecosystem and key support levels
Ripple, the company behind XRP, continues to advance its position within institutional payments, stablecoin development, and digital asset tokenization. Despite ongoing innovations, these efforts have not consistently translated into sustained demand for XRP on the open market.
XRP has maintained a central role in Ripple’s ecosystem, particularly in the trading of RLUSD, Ripple’s stablecoin, on decentralized exchanges. According to research from Evernorth, XRP was the base asset for 92% of RLUSD swaps on decentralized platforms, challenging claims that the token is losing relevance in its native network.
Mini dictionary: Evernorth is a blockchain research group that publishes analyses on digital asset adoption and trends within decentralized networks.
In recent trading, XRP’s price dropped to $1.10, mirroring movement observed the previous summer when similar price patterns preceded a rally to a quarterly high of $1.67, according to CoinGecko data. A $1.21 million liquidation event in perpetual contracts triggered further losses, forcing bullish traders to defend the $1.058 support—now sitting below all four commonly tracked moving averages. The ratio between long and short interest in XRP futures has slipped to 0.9912, indicating that sellers narrowly outweigh buyers. Analysts are closely watching the liquidity pockets between $0.98 and $1.05 for potential shifts in short-term momentum.
Ripple’s ongoing involvement in institutional payments and digital asset tokenization has strengthened adoption, yet recent price action and technical indicators show that XRP bulls now face the challenge of defending support zones between $0.98 and $1.05.
Market outlook and sentiment
Despite significant corrections in multiple leading altcoins, some analysts believe that renewed interest from retail and institutional participants could reverse current trends. However, broader caution persists due to uncertain macroeconomic conditions and declining speculative activity.
