XRP Falls to Lowest Level Since November 2024 as Crypto Capital Outflows Accelerate
XRP fell to $0.89, its lowest price since November 2024, as declining cryptocurrency prices coincided with withdrawals from XRP investment funds and a contraction in stablecoin supply. The token has lost 36% this quarter and remains well below its July 2025 peak above $3.60, adding to signs of weakening liquidity across the digital asset market.
The latest decline came as Bitcoin and Ether also dropped to price levels last seen in August. XRP's slide reflects pressure on the broader crypto market, with investment flows and stablecoin market capitalization both pointing to reduced capital availability.
XRP ETF Outflows Reach Highest Level Since March
U.S.-listed spot XRP exchange-traded funds recorded net outflows of $19.13 million last week, the largest weekly withdrawal since March 2026, according to data from SoSoValue.
Since their launch in November 2025, the funds have attracted approximately $1.5 billion in total inflows. That amount remains considerably smaller than the several billion dollars accumulated by spot Bitcoin and Ether ETFs. Both Bitcoin and Ether investment products have also experienced outflows recently.
XRP's latest price decline follows a prolonged downturn from its peak above $3.60 in July 2025. The token's drop to $0.89 marks its lowest level since November 2024, when it last traded around that price during a period of stronger market demand following Donald Trump's election victory.
USDT and USDC Market Capitalization Contracts
Pressure on crypto liquidity is also visible in the stablecoin market. The combined market capitalization of the two largest dollar-pegged stablecoins, Tether's USDT and Circle's USDC, has fallen to approximately $244 billion, its lowest level since September 2025.
The combined figure peaked at around $270 billion in early May before beginning a sustained decline. It stood near $260 billion before falling rapidly over the past seven weeks.
Glassnode analysts described the contraction as a significant reduction in available stablecoin liquidity. “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,” the analysts said.
Stablecoin Supply and Crypto Market Liquidity
Stablecoins are digital assets designed to maintain a value linked to an external reference, commonly the U.S. dollar. They are widely used to fund cryptocurrency purchases and facilitate cross-border transactions.
A declining combined supply of USDT and USDC indicates that the amount of these two major dollar-linked tokens in circulation has contracted. Glassnode analysts connected the reduction to holders converting stablecoins into fiat currency, which they said reduces purchasing power available for Bitcoin and other cryptocurrencies.
The simultaneous decline in XRP, recent ETF withdrawals and shrinking stablecoin market capitalization highlights several sources of pressure facing the digital asset market. However, the reported figures do not establish a single cause for XRP's price decline.
source: coindesk
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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