Major XRP Price Update and Important Ripple News: November 12
XRP price has fallen to $1.03, approaching a key $1.00 support level, as Ripple continues advancing institutional lending system development on the XRP Ledger.
The cross-border token has taken the overall market downturn particularly hard, becoming one of the poorest performers among larger-cap digital assets. Earlier this week, XRP dipped to a multi-month low of $1.03, shedding 17% of its value in just seven days. One analyst attributed this severe decline partly to alleged manipulation and leveraged liquidations in the market.
Selling pressure has intensified on major exchanges, with CryptoQuant's Cumulative Volume Data showing approximately -4.33 million XRP, indicating aggressive market selling has outweighed buying activity. Despite this, some potentially bullish signals have emerged beneath the surface, as XRP whales accumulated over 65 million tokens in four days.
Ripple Development Progress
Ripple's institutional lending system continues to advance toward launch, with the proposed XRP Ledger lending protocol gaining additional validator support. The amendment has risen from 19 votes a month ago to 22 out of 35 validators as of this week. However, it still requires support from 29 validators for two consecutive weeks before activation.
The system is designed to enable fixed-term, uncollateralized lending for institutions such as banks and payment companies, with underwriting and risk management handled off-chain. Meanwhile, the related SingleAssetVault amendment currently has 23 validators supporting it.
Network Reset and ETF Outflows
Developers will reset both the XRPL Testnet and Devnet on November 25, deleting all existing accounts, balances, transactions, tokens, AMMs, escrows, and other on-chain data. The main goal is to address infrastructure problems and improve full-history server stability, while the XRPL mainnet will remain completely unaffected.
Demand for XRP ETFs has seemingly disappeared, with the funds showing little to no action during the previous business week. Four of the five days recorded $0.00 in net flows. The situation worsened at the start of the current business week, with $10.42 million in net outflows on Monday and another $7.62 million on Tuesday.
His decisions reflect his personal tolerance for financial risk rather than a prediction that XRP will fail.
Market Sentiment and Outlook
Retail sentiment has deteriorated dramatically, with Santiment data showing just 0.49 bullish comments for every bearish one—substantially worse than the ratios for Bitcoin and Ethereum. This extreme pessimism could potentially serve as a contrarian signal, though it doesn't guarantee that a bottom has been reached.
XRP's long-term outlook has divided analysts, with ChartNerd arguing that historical cycles suggest the next major peak may not arrive until 2029. This thesis is based on an average gap of roughly 1,400-1,440 days between cycle tops, though he still views the current region as a potential short-term bottoming zone.
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