Payments-centric digital asset XRP dropped to a price not seen since November 2024 while bitcoin and ether declined to marks last recorded in August.
XRP touched a bottom of 89 cents, marking a valuation it previously held in the opening days of November, right after President Donald Trump secured his election victory on pledges of introducing supportive cryptocurrency regulations, which spurred strong market demand.
The cryptocurrency has lost 36% over the course of this quarter alone and has suffered a continuous downward trend following its peak above $3.60 in July 2025.
This most recent drop comes in the wake of withdrawals from spot exchange-traded funds (ETFs). Over the past week, U.S.-based XRP ETFs experienced net withdrawals totaling $19.13 million, representing the largest figure since March 2026 according to metrics provided by SoSoValue.
Ever since their debut in November of the previous year, these ETFs have accumulated roughly $1.5 billion—a meager figure in comparison to the multi-billion-dollar inflows drawn by bitcoin and ether ETFs. Furthermore, bitcoin and ether exchange-traded funds have also experienced recent outflows.
At the same time, funds are exiting via alternative channels as well. The combined market capitalization of the top two dollar-linked stablecoins, USDT and USDC, has decreased to $244 billion, hitting a floor not experienced since September 2025.
The aggregate value reached a high near $270 billion in early May and has since dropped sharply across the last seven weeks, descending from $260 billion in an almost vertical trajectory.
“Stablecoin supply is shrinking fast. It fell by $17B over the last month, the steepest drop since 2022. As holders swap stables to fiat they drain buying power from BTC and crypto,” analysts at Glassnode said.
Stablecoins represent virtual currencies designed to maintain their price in alignment with an external benchmark, like the United States dollar. Consequently, they serve as a favored instrument for financing digital asset purchases and international money transfers.
Originally published at https://www.coindesk.com/markets/2026/11/15/xrp-crashes-to-its-lowest-since-november-2024-as-money-leaves-crypto.
