XRP Drops to $1.06 Amid ETF Outflows and Bearish Momentum

XRP price falls to $1.06 as ETF withdrawals and bearish momentum weigh

XRP slipped more than 3% over the past 24 hours to trade near $1.06 on November 11, extending a corrective phase that has pushed the token well below its summer highs. The move reflects a mix of spot ETF outflows, pressured technical indicators and uneven sentiment across spot and derivatives markets. Over the last week XRP has fallen roughly 15.4%, while monthly losses approach 25% — leaving the token over 58% lower than a year ago.

Key headlines

• XRP down to about $1.06 on November 11 after intraday lows near $1.03.
• US spot XRP ETFs recorded around $10.42 million in net outflows on November 9, with Bitwise accounting for roughly $9.4 million.
• Derivatives activity on Binance shows elevated bullish positioning: XRP cumulative funding rates reached their highest level in more than a year.
• Technical indicators remain tilted toward sellers: RSI deep in oversold territory, MACD negative, and price trading below major exponential moving averages.
• Immediate support sits at $1.05, with a break below $1.03 exposing the psychological $1.00 level. Recovery would require reclaiming $1.07–$1.10.

ETF outflows: what moved the market

One of the most visible catalysts for the recent decline was net outflows from US spot XRP exchange-traded funds. SoSoValue data show combined net withdrawals of roughly $10.42 million on November 9. Bitwise’s XRP ETF led the exits, accounting for approximately $9.4 million — nearly 90% of the daily outflow. Canary Capital’s XRPC recorded about $811,440 in redemptions and 21Shares’ TOXR saw roughly $212,900 leave.

Although notable, these outflows represented less than 1% of the funds’ aggregate assets and were the largest single-day ETF redemptions since March. The event still matters because institutional flows into spot ETFs have been a major factor underpinning XRP’s rally earlier in the year. In August, for example, spot XRP ETFs attracted $110.49 million in the last week of the month, helping cumulative inflows to top $1.66 billion and fueling a 37% monthly gain for XRP — its best monthly performance of 2026.

The current pullback has erased much of that late-summer advance, underscoring how ETF flows can quickly alter near-term market direction for regulated crypto exposures.

Derivatives: Binance funding rates signal persistent long bias

Derivatives markets painted a more conflicted picture. On Binance, perpetual futures funding rates for XRP climbed to multi-month highs even as prices fell. CryptoQuant analyst Darkfost flagged the rolling 30-day cumulative funding rate on XRP perpetuals at about 0.18% — the highest reading since October 2025.

🗞️ XRP funding rates on Binance hit a 1Y high while spot ETFs see $10.4M in net outflows

Funding rates that are persistently positive indicate that long traders are paying shorts to keep positions open, implying that leverage is concentrated among buyers. Historically, unusually high positive funding rates have appeared near local price peaks, which raises the risk of sharp corrections when sentiment shifts.

Volume and open interest

Trading activity, however, increased as prices fell. CryptoQuant’s Amr Taha reported that XRP’s seven-day average spot volume rose 53.2%, from $513 million on October 28 to $786 million by November 9. Higher volumes amid declining prices can reflect capitulation selling or aggressive shorting; volume alone does not distinguish buying from selling pressure.

Meanwhile, Binance’s 30-day average open interest for XRP perpetuals reportedly dipped from about 512 million XRP to 453 million XRP since mid-October, suggesting a reduction in outstanding leveraged positions during the correction.

Trader views and potential accumulation

Market commentators differ on whether the drop is simply a technical correction or a buying opportunity. Crypto trader BangXBT described XRP as a “classic example of accumulation,” cautioning against FOMO-driven entries while pointing to observation and deeper-buying levels at $0.9763 and $0.6732, respectively. Such views show that some traders are watching for lower-price zones to build positions, while others remain cautious until higher timeframes confirm a trend reversal.

Technical analysis: oversold but still bearish

From a technical standpoint, XRP continues to form lower highs and lower lows. The token made unsuccessful attempts to clear resistance around $1.08–$1.10 during the most recent session, and buyers were unable to hold gains above $1.07 after a bounce from roughly $1.035.

Key technical readings:

• Relative Strength Index (14-day): 23.77 — well into oversold territory below the 30 threshold.
• MACD: -0.0648 with signal line at -0.0474 and a negative histogram of -0.0174, indicating prevailing bearish momentum.
• Exponential moving averages: trading below the 20-day EMA ($1.22), 50-day EMA ($1.29) and 200-day EMA ($1.35).
• Bollinger Bands: price slipped below the lower band near $1.08, highlighting high volatility and an oversold condition.
• Williams %R: -93.08 and Stochastic oscillator at 5.36 — both signaling heavily oversold readings.

Despite the oversold indicators, the MACD and moving averages still favor sellers, which means any rebound may be short-lived unless buyers reclaim key resistance levels.

Immediate levels to watch

• Support: $1.05 is the immediate floor. A breakdown toward the recent intraday low around $1.03 would refocus attention on $1.00 as the next psychologically important level.
• Resistance: $1.07 is a near-term pivot. A sustained move back above $1.08–$1.10 would be required to challenge the broader bearish trend and potentially draw back earlier late-summer highs.

Outlook and trading implications

For traders and investors, the current mix of ETF outflows and elevated funding rates suggests caution. Positive funding rates paired with falling prices can be a sign of crowded long positions that are vulnerable to a deleveraging event. At the same time, increased spot volume and calls for accumulation indicate interest at lower levels.

Institutional flows into and out of spot ETFs will likely remain a primary driver of price direction. If ETF inflows resume, or if spot volumes convert into buying demand, XRP could find support and stage a recovery. Conversely, continued ETF redemptions and a contraction in open interest could deepen the correction and push XRP toward the $1.00 mark.

Risk management remains critical. Traders using leverage should monitor funding rates and open interest, while long-term investors may look to phased buying strategies if they believe fundamentals and regulated product adoption remain constructive.

Conclusion

XRP’s slide to roughly $1.06 on November 11 underscores the interplay between ETF flows, derivative positioning and technical momentum. While oversold indicators point to a potential bounce, elevated positive funding rates and negative MACD readings suggest sellers still control the short-term trend. Immediate support is at $1.05 with a deeper zone at $1.03–$1.04; reclaiming $1.08–$1.10 is needed to shift the outlook bullish. Market participants should watch ETF flow data, Binance funding rates and key technical levels to gauge the next meaningful directional move.