XRP is on an overall downward path this week, which culminated in the early hours on Wednesday, November 5, when the price crashed towards $2.
The cryptocurrency had been showing signs of weakness from a technical perspective since the end of October, with a descending pattern characterized by lower highs and lower lows.
Analysts such as Ali Martinez noted on November 5 the bearish momentum when the token slipped beneath key mid-range resistance around $2.60, predicting that selling pressure could send the price toward $2.
$2! ✔️ https://t.co/j8xAKWrY9f
— Ali (@ali_charts) November 5, 2025
While the asset has managed to recover somewhat, trading at $2.23 at press time, the price is still down over 15.5% on the weekly chart, and a lot of risk still lingers as another break below $2 could open the door to a deeper slide toward roughly $1.90.
What’s more, when the price crashed, XRP’s market cap also sank to just south of $127 billion, down by as much as $25 billion from Monday’s highs of approximately $152 billion.
Why is the XRP price down?
The broader market shake-out has also weighed heavily on XRP. Indeed, the overall crypto market cap sits at $3.38 trillion at publication time, down from $3.56 trillion recorded a day earlier, as per CoinMarketCap. Moreover, nearly $836 billion in crypto liquidations in 24 hours has intensified pressure across the altcoin space.
Speculation around new XRP ETFs is also affecting investor sentiment. Namely, Franklin Templeton and Bitwise have submitted new filings with mid-November approval windows, and while the developments suggest institutional interest, traders appear to be cashing out.
As already mentioned, momentum indicators have turned bearish. XRP slipped under the 38.2% Fibonacci level at $2.47 and lost the 200-day exponential moving average (EMA) at $2.60.
At the same time, the moving average convergence divergence (MACD) histogram has gone negative, reinforcing the bearish rotation. Likewise, the short-term relative strength index (RSI) at 24.84 implies the market is deep in “oversold” waters.
Featured image via Shutterstock
