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XRP price could fall toward USD 0.90 after losing a support level that held for several months. Glyde co-founder Sweep has warned that the cryptocurrency may reach new cycle lows as sellers continue to dominate trading.
The warning comes as XRP trades near USD 1.06, down 2.59% over the past 24 hours. Spot XRP ETF withdrawals have also continued, adding to concerns about the token's ability to hold above USD 1.
Glyde co-founder Sweep expects XRP to extend its recent decline after the token broke below a key support range. “XRP looks like it's going to new cycle lows,” Sweep said in his latest market commentary.
His prediction follows XRP's failure to hold the USD 1.24 to USD 1.25 range. Buyers had repeatedly defended that level since August, but the latest selloff pushed prices below it.
The daily chart shows how the weakness developed. XRP climbed toward USD 1.55 in August before losing momentum. It later reached close to USD 1.67, although buyers failed to maintain that recovery. Another rally stopped near USD 1.40, leaving XRP with a lower peak before its November decline.
The price movements resemble a head-and-shoulders pattern, which can signal further losses when support breaks. Sweep's chart places the next major downside target between USD 0.90 and USD 0.92. A fall from USD 1.06 to USD 0.90 would erase another 15% of XRP's value. However, that scenario depends on whether buyers can defend the remaining support levels.
XRP's recent decline has coincided with withdrawals from US-listed spot exchange-traded funds. According to SoSoValue, XRP ETFs recorded USD 10.42 million in net outflows on November 9. Bitwise accounted for approximately USD 9.4 million, while Canary Capital's fund lost about USD 811,000.
Investors withdrew another USD 7.62 million on November 10, marking the second consecutive trading session of outflows. Grayscale's XRP fund led the withdrawals with approximately USD 7.17 million. The two sessions brought combined net withdrawals to roughly USD 18 million.
Meanwhile, Binance trading data showed a negative XRP cumulative volume delta, meaning market sell orders exceeded buy orders during the measured period.
Liquidations added to the weakness. XRP traders suffered approximately USD 26 million in liquidations on November 9, with long positions accounting for 98.4% of the total. Although the wider cryptocurrency market also declined, XRP fell more sharply than Bitcoin, which lost approximately 1.02% over the same 24-hour period.
XRP's next test lies between USD 1.03 and USD 1.05, where buyers have recently attempted to stop the decline. Failure to defend that range could send the price toward USD 1. A break below USD 1 would bring Sweep's USD 0.90 target back into focus.
However, the daily Relative Strength Index has dropped below 30, placing XRP in oversold territory. The reading shows strong selling momentum, although it does not confirm a recovery will follow. For buyers to regain some control, XRP would need to move above USD 1.10 and hold that level.
The former support area near USD 1.24 to USD 1.25 remains a higher resistance zone. The next US spot XRP ETF flow report will provide another measure of investor demand as traders watch whether USD 1.03 holds.
Also Read: XRP Price Prediction: Three Possible Scenarios for 2027