XRP's price dropped to its lowest in three sessions as Bitcoin slipped below $90,000, pulling altcoins into oversold territory. Whale wallets offloaded nearly 200 million XRP over 48 hours, intensifying supply pressure. Technical indicators show oversold conditions, but recovery requires breaking above $1.96.
The cryptocurrency market experienced heightened volatility on November 23, 2025, with XRP leading declines among major altcoins. Bitcoin's fall below $90,000 triggered a broader risk-off sentiment, dragging the total crypto market capitalization lower amid heavy outflows.
Whale activity exacerbated XRP's downturn, as large holders dumped nearly 200 million tokens—valued at around $400 million—over a 48-hour period. This created acute supply pressure, pushing XRP from $1.96 to $1.91, its lowest close in three sessions. Trading volume surged 67% above average to 182.1 million, signaling institutional selling and confirming the bearish momentum.
A descending channel pattern dominated the session, marked by 5.1% intraday volatility. XRP hit a capitulation bottom at $1.895 before a modest 0.5% reversal in the late session, supported by a final-hour volume spike to 2.76 million. This bounce hinted at early accumulation, with support holding at $1.90–$1.91.
Technical analysis revealed deep oversold conditions, with RSI and short-term stochastic indicators showing bullish divergences—the first since the previous week's breakdown. Despite these signals, the overall structure remains fragile. A clean break above $1.96 is essential to invalidate the descending channel and spark a short-term reversal. Failure to hold $1.90 could lead to further drops toward $1.82 or $1.73.
Adding to the mix, Bitwise's new XRP ETF saw $25.7 million in first-day volume and $107.6 million in assets under management, indicating institutional interest. However, elevated market fear levels mean XRP will likely continue reacting sharply to Bitcoin's movements. Traders are watching $1.90 as a critical level, alongside ETF flows for potential upside catalysts.