XRP Falls Below $2 Amid ETF Launches and Market Slump

XRP, the cryptocurrency associated with Ripple's payment network, fell below the $2.00 mark on Thursday, extending losses amid a broader market downturn and heavy selling from large holders, even as multiple exchange-traded funds tracking the asset launched in recent weeks.

The token traded at $1.98 late Thursday, down about 7 percent over the past 24 hours and 16 percent for the week, according to market data. This marks its lowest level since early October, erasing most gains from earlier in 2025. Bitcoin's slide below $87,000, which liquidated over $220 million in long positions, contributed to the pressure, with XRP underperforming peers like Solana and BNB on a weekly basis. Whale wallets holding 1 million to 10 million XRP sold more than 250 million tokens in the last 48 hours, valued at over $500 million, adding to the downward momentum.

Despite the slump, institutional interest in XRP remains robust, highlighted by a flurry of ETF approvals and launches in the United States. Canary Capital's XRPC ETF debuted on November 13, attracting nearly $250 million in inflows on its first day and setting a 2025 trading volume record. Bitwise Asset Management followed with its XRP...