XRP News Today: XRP's $2 Battleground: ETF Optimism vs. Market Sell-Off

XRP's price plunged below $2 on November 20, 2025, despite a wave of spot XRP ETF launches and record inflows, as broader market turmoil overshadowed institutional optimism. The token, which had erased nearly a month of gains, fell victim to a crypto market crash triggered by Bitcoin's slide to $84,000 and a $220 million liquidation event. While Bitwise Asset Management's XRP ETF debuted with $22 million in trading volume within hours, and Canary Capital's XRPC ETF set a 2025 record with $58.5 million in day-one volume, XRP's price action remained decoupled from the bullish sentiment surrounding its newfound institutional access.

The ETF frenzy has intensified competition among major asset managers, with Franklin Templeton, Grayscale, and 21Shares preparing launches by November 24. Analysts remain divided on whether these products will stabilize XRP's price. "ETF demand could help support XRP once volatility settles," said Bitwise CIO Matt Hougan, noting the fund's 0.34% fee waiver for the first $500 million. However, on-chain data from Glassnode revealed that 41.5% of XRP's supply was trading at a loss, a structural weakness analysts warn could deepen if Bitcoin's bearish momentum continues.

Technical indicators highlight a critical juncture for XRP. The $2 level - a psychological and technical support - has become a battleground, with traders split on whether ETF inflows can offset broader market headwinds. If XRP holds, a rebound toward $2.6 is possible; a breakdown could accelerate a slide to $1.5.

Meanwhile, the XRP Ledger's transaction volume has collapsed by 50% since late October, signaling waning demand for its payment network. "The fundamentals are deteriorating faster than the price," said one analyst, noting that declining transaction counts and payment volumes contradict short-term bullish narratives.

Ripple CEO Brad Garlinghouse hailed the ETF launches as a "turkey trot" toward mainstream adoption, but market realities complicate the narrative. Whale activity has exacerbated selling pressure, with 400 million XRP offloaded in 48 hours. Even as 21Shares and CoinShares await SEC approval, skepticism persists about whether ETFs alone can reverse XRP's multi-month bearish trend. "Institutional flows may take until 2026 to materialize," said one strategist, cautioning that XRP's price stability hinges on Bitcoin's recovery and macroeconomic clarity.

Ripple's development team is exploring native XRP staking to boost participation, though the XRP Ledger's Proof of Association model remains unchanged. This proposal, aimed at aligning validator incentives without altering core protocol design, has sparked debate within the community. For now, XRP traders face a fragile landscape where ETF optimism clashes with on-chain fragility and macro-driven volatility.