Key takeaways
- XRP approaches $1.15 support after another weekly decline
- Spot XRP ETFs record no fresh inflows Friday
- November inflation report could trigger renewed market volatility
XRP is trading near $1.15 on November 8, extending its weekly decline to approximately 7% as buyers struggle to stabilize the token following its failed recovery toward $1.35 earlier this month.
XRP has fluctuated between approximately $1.15 and $1.17 over the past 24 hours, with trading volume near $843 million. The cryptocurrency has lost more than 16% over the past month, leaving traders watching whether the latest support zone can prevent another decline toward $1.10.
The weakness follows a sharp November 6 selloff, when XRP broke below $1.20 after failing to sustain its earlier rebound.
XRP Price Prediction: Can $1.15 Prevent Another Drop?
The immediate technical structure remains bearish, with XRP trading below several important moving averages and struggling to recover its previous support levels.
The $1.15 region is particularly important because XRP approached this level during November 7 trading, establishing a recent low near $1.1485.
Technical pivot calculations place nearby support around $1.1484, followed by $1.1329 and $1.1157. A sustained breakdown below $1.15 would therefore expose $1.13 before the psychologically important $1.10 level.
The daily relative strength index recently approached 31, indicating weakening momentum and conditions nearing the conventional oversold threshold of 30.
However, oversold readings do not guarantee an immediate recovery, particularly when the broader market continues experiencing selling pressure.
For a bullish reversal, XRP would first need to reclaim $1.17–$1.18, followed by the former $1.20 support level. A sustained recovery above $1.20 could bring $1.25 back into focus.
XRP ETF Inflows Stall Despite $1.81 Billion in Historical Demand
Institutional investment activity has provided little immediate support during the latest decline.
US spot XRP ETFs recorded zero net inflows on November 6, according to preliminary fund-flow data. Combined net assets stood near $1.34 billion, while cumulative inflows since launch remained approximately $1.81 billion.
The distinction matters because ETF demand has slowed even as historical investor contributions remain substantial.
Meanwhile, earlier whale transfers raised concerns about potential exchange selling pressure. Those historical deposits do not establish that large holders are selling during the current session.
US Inflation Data Could Decide XRP's Next Move
The next major market catalyst arrives November 10, when the Bureau of Labor Statistics publishes October's Consumer Price Index.
Friday's strong employment report increased expectations of another Federal Reserve rate hike, adding pressure to risk-sensitive assets.
Higher-than-expected inflation could reinforce those expectations, potentially weakening demand for cryptocurrencies. Softer inflation could provide relief, although it would not automatically reverse XRP's downtrend.
Development across the XRP Ledger continues, but proposed lending functionality remains below its activation threshold and has not provided a clear near-term price catalyst.
