XRP continues to face selling pressure after losing 3.4% of its value in the last 24 hours. The bearish performance comes amid political uncertainty, institutional withdrawals, and worsening macroeconomic conditions.
The cryptocurrency has lost approximately 16% of its value over the past week and 23% over the last month, making it the weakest performer among the top 10 cryptocurrencies by market cap.
XRP ETF outflows hit an eight-month high
Institutional demand for XRP has deteriorated, with exchange-traded funds linked to the cryptocurrency recording their largest daily withdrawals in approximately eight months.
According to SoSoValue, XRP ETFs recorded $10 million in net outflows on Monday, marking their biggest single-day withdrawal since March 2026.
The outflows continued, with another $7.62 million withdrawn from the funds on Tuesday. The outflows followed four consecutive trading days during which the funds recorded no net activity.
If the month ends with net withdrawals, it would mark the third consecutive month of declining flows, suggesting that institutional investors are becoming increasingly cautious about XRP’s near-term prospects.
Persistent withdrawals can weaken market sentiment and contribute to selling pressure, particularly when the underlying asset is already experiencing a substantial correction.
In addition, macroeconomic conditions have added another challenge for XRP as stronger-than-expected US inflation figures reinforce expectations of tighter monetary policy.
The latest October Consumer Price Index report showed that core inflation rose 0.3% month-on-month, exceeding market expectations of 0.2%.
The higher reading has prompted investors to reassess the Federal Reserve’s interest rate outlook ahead of its December policy meeting. CME Group’s FedWatch data indicates that traders assign a 12% probability to a 50-basis-point rate hike.
XRP price forecast: Bears target $0.98 as key support weakens
The XRP/USD daily chart remains bearish as XRP risks dropping below $1 in the near term.
On the daily chart, XRP has reached the midpoint of its remaining fair value gap (FVG), an important support area associated with previous price imbalances.
The current FVG represents an important area where buyers could attempt to defend the market. However, continued selling pressure could result in the gap being fully filled, potentially exposing XRP to further decline.
If the bearish trend persists, sellers would look to push XRP towards the next major support at $0.98. Failure to defend $0.98 could leave XRP vulnerable to a deeper correction.
Despite the prevailing bearish conditions, XRP’s momentum indicators suggest that a short-term recovery remains possible.
XRP/USD Daily Chart
The daily Relative Strength Index (RSI) has entered oversold territory at 25, indicating that the recent selling pressure has become increasingly stretched.
The Stochastic indicator is also within oversold territory (8.75). The oversold conditions could prompt buyers to enter the market over the next few trading sessions.
If the buyers step in, XRP could test the first major resistance at $1.113, representing the previous-day candle high.
An extended rally would allow XRP to surge higher and target the $1.30 level in the near term. However, the strong institutional demand and macroeconomic conditions would need to align for XRP to extend its recovery.
AI disclosure: AI tools assisted with research and drafting of this piece. An Invezz editor reviewed the facts, sources and wording before publication. Any opinions or analysis are Invezz’s, not those of an automated system.
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