XRP Falls to $1.17 as Whales Buy and ETF Inflows Stall
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XRP changed hands near $1.17 on November 7, roughly 25% below an early October level close to $1.55, as a post-election slide in crypto and technology shares continued, CoinCentral reported. The token has lost about 17.4% over the past 30 days, and analysts are now tracking a demand zone between $1.16 and $1.04.
Key facts
- XRP traded near $1.17 on November 7, down about 25% from an early October level near $1.55, per CoinCentral.
- CoinGlass data cited by CoinCentral showed more than $10 million in leveraged long positions liquidated, with open interest down 12.36%.
- US spot XRP ETFs saw about $529,500 in net outflows from November 2 to 6, according to SoSoValue figures reported by CoinCentral.
- Whales added more than 16.46 million XRP over five days as the token fell from $1.34 to $1.15, analyst Ali Charts said.
- Crypto Briefing reported that Dan Ives of Yorkville Ives called the post-midterm tech selloff overdone and expects Big Tech and hyperscaler capital expenditure above $1 trillion in 2027.
What pushed XRP lower
The steepest leg down followed the US midterm elections, which Crypto Briefing reported on November 4 delivered Democratic control of both the House and the Senate. CoinCentral placed the elections on November 3 and said selling returned across crypto after a brief recovery faded. The two outlets give different dates for the vote.
On November 5 the Nasdaq Composite fell 5.5%, CoinCentral reported, and XRP lost about 5.5% in 24 hours. Crypto Briefing describes a wider intraday range for the index, between 3.7% and 5.5%, and reported Nvidia dropping more than 8% to 9% that day as semiconductors led the decline. More than $1 billion in crypto derivatives positions were liquidated that session, mostly bullish bets, according to CoinCentral.
Crypto Briefing reported that Ives has warned the results could slow data-center construction and AI infrastructure investment, flagging possible regulatory friction in states such as Texas. He projected that 10% of the 800 to 1,000 planned AI-focused data centers in the US may not be built, while still expecting a near-term 10-12% downside for semiconductor stocks. Analyst Tom Lee, Crypto Briefing noted, projects a potential 20% rally in tech shares after the selloff.
Chart levels and ETF flows
Analyst ChartNerd told followers that XRP broke a support floor that had held for 10 weeks and identified $1.16 to $1.04 as a demand zone, with $1.34 named as a level that would change the picture. Ali Martinez said the token has left the middle of its channel, the bottom of which sits near $0.99. Dark Defender argued buyers need to defend $1.12, which served as resistance in July and August.
The daily RSI stood at 29 on November 7 and the MACD line and histogram were both negative, CoinCentral reported. It flagged $1.15-$1.14 as the nearest area to watch, with $1.12, $1.10 and $1.00-$0.99 below that, and $1.20-$1.22 as the first recovery hurdle.
ETF demand has cooled. October inflows came in at $18.8 million, down from $121.4 million in September, and Monday accounted for the whole of the November 2-6 outflow while the following four sessions showed zero net flows. Cumulative net inflows are near $1.81 billion, and the funds held about $1.34 billion in combined net assets at the end of the week.
Why it matters
XRP’s move is a case study in how quickly leveraged positioning unwinds when a macro shock hits an asset already below its 20-week and 50-week moving averages. The contrast between whale accumulation and stalling ETF inflows leaves the token without a single clear driver, which matters for holders who expected institutional demand to set the floor. Tech investors face a related question: whether the election-driven selling reflects a real change in AI spending plans or a sentiment shock.
What to watch
Daily closes around $1.15-$1.14 will indicate whether the $1.12 monthly pivot holds. On the tech side, any sign that Microsoft, Amazon, Alphabet or Meta are trimming infrastructure budgets would test Ives’s thesis, as Crypto Briefing noted.
This is not financial advice. Crypto markets are volatile and uncertain, and price levels and forecasts discussed here may not materialize.
Disclaimer: This article is for information only and is not investment, financial or trading advice. Cryptocurrency prices are highly volatile. Always do your own research.
Sources: CoinCentral, Crypto Briefing
