XRP dropped by more than 3% over the past 24 hours to around $1.06 on November 11, 2026, after touching an intraday low of $1.035. The daily decline extended its weekly slide to 15.4% and widened monthly losses to nearly 25%. Compared to the same period last year, XRP is down over 58%. The weakness is driven by two headwinds at once: spot ETF outflows and contract imbalances across derivatives markets.
Largest Outflows Since March
Data from SoSoValue shows that US spot XRP ETFs logged daily net outflows of $10.42 million on November 9, 2026. This marked the largest single-day capital withdrawal for the investment product since March 2026.
The outflows eroded positive momentum built in August 2026, when spot XRP ETFs gathered $110.49 million in weekly inflows, pushing cumulative assets past $1.66 billion and lifting XRP’s price by 37% over a month. The latest withdrawals have reversed the accumulation trend that helped support the market throughout the third quarter.
Why Heavy Binance Longs Pose Risks
A striking imbalance has developed in the derivatives market. CryptoQuant analyst Darkfost noted that the 30-day cumulative funding rate for XRP perpetual contracts on Binance climbed to 0.18%, reaching its highest level since October 2025.
A funding rate this elevated indicates that long positions heavily dominate the market and are paying recurring fees to short sellers. Historically, overcrowded long trades often precede market reversals or mark local price tops.
At the same time, the 30-day average open interest for XRP futures on Binance has continued to contract, sliding from 512 million to 453 million XRP since mid-October as traders closed out positions.
Oversold Signals Near $1.03
Spot market activity presents a contrasting picture. CryptoQuant analyst Amr Taha highlighted that XRP’s seven-day average spot trading volume surged 53.2% from $513 million on October 28 to $786 million on November 9, 2026. The surge reflects heightened trading turnover during the price decline.
From a technical standpoint, the 14-day Relative Strength Index sits at 23.77. Falling below the 30 threshold places XRP in oversold territory, with the $1.03 to $1.05 range serving as the closest technical support cushion.
For traders, the $1.03 to $1.05 support zone marks the next critical test. As long as spot ETF outflows continue and futures longs remain burdened by high funding fees, the $1.03 area will determine whether the price can hold or slides further.
Reported via crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
