XRP Drops 23.4% Since Nov. 4, Underperforming Bitcoin, Ethereum, and Solana - KuCoin
XRP has fallen 23.4% since November 4, breaking through key support levels and trading near $1.04, a deeper decline than Bitcoin, Ethereum, and Solana.
A comparison of the four assets from November 4 through November 10 shows a clear difference in severity. XRP recorded the largest decline at 23.4%, followed by Ethereum at 18.2%, Solana at 17.0%, and Bitcoin at 10.4%.
This means XRP underperformed Bitcoin by roughly 13 percentage points, Ethereum by 5.2 points, and Solana by 6.4 points.
Bitcoin declined from roughly the low-$81,000 region toward $73,000 during the measured move. Ethereum fell from approximately $2,475 toward $2,025, while Solana dropped from around $99 to $82.
XRP’s decline was steeper, moving from roughly $1.36 to $1.04.
Possible Causes of the Decline
EGRAG Crypto highlighted three possible explanations for the outsized XRP decline: a leverage flush, selling by long-term holders, or deliberate liquidity hunting.
He assigned subjective weights of 30%, 20%, and 50%, respectively, while stressing that the estimates are personal assessments rather than established probabilities.
The Crypto Basic previously reported that XRP had roughly 5.6 times more modeled long-liquidation exposure below spot than short exposure above spot. This positioning provided a mechanism through which falling prices could force additional longs out of the market.
The recent sequence illustrates that dynamic. XRP first lost $1.19, then $1.14 and $1.10 as the market moved through successive downside liquidity zones. The $1.10 region had already been identified as a major target after XRP lost $1.26.
Large, rapid declines can resemble stop hunts because leveraged positions cluster around obvious support levels. Once those levels fail, forced liquidations and stop orders can accelerate the move without requiring coordinated manipulation.
Critical Support Zone
XRP now trades around $1.05, leaving the $1.00-$1.04 region as the immediate area buyers need to defend. CoinMarketCap currently shows XRP down roughly 17% over seven days.
This overlaps with the major fair value gap extending toward $1 and follows the loss of the $1.07 support zone.
On the upside, XRP would first need to reclaim approximately $1.15, followed by $1.20-$1.25, before the short-term structure begins materially improving.
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