XRP has become one of the weakest major cryptos during the latest market selloff.
According to EGRAG Crypto’s comparison, XRP has fallen about 23.4% since November 4, versus roughly 18.2% for Ethereum, 17% for Solana and 10.4% for Bitcoin.
That leaves XRP trading close to $1.04, after briefly breaking through several support levels that had held earlier in the month.
EGRAG believes the underperformance could come from three possible sources: forced leverage liquidations, selling from early holders, or deliberate liquidity hunting.
The third explanation is his preferred one, but he makes clear that these are subjective probabilities rather than proven facts.
What you'll learn 👉
XRP Long Liquidations Have Added Fuel to the Drop
The leverage explanation has the strongest hard data behind it.
XRP has suffered an aggressive long squeeze as support levels failed.
CoinMarketCap reported that roughly $39-$40 million of leveraged XRP long positions were liquidated on November 8 alone, compared with only about $370,000 in shorts.
That imbalance matters.
When leveraged longs are liquidated, exchanges automatically sell the position into a falling market. If price is already weak, those forced sales can push XRP through another support level and trigger another round of liquidations.
That helps explain why XRP has fallen faster than Bitcoin during parts of the current correction.
#XRP – WHY IS XRP CRASHING HARDER THAN #BTC, #ETH & #SOL Since November 4th? 🔴🔥 Guys, LOOK AT THE NUMBERS! 👀 🔴 XRP: −23.4% 🔴 ETH: −18.2% 🔴 SOL: −17.0% 🔴 BTC: −10.4% WHY IS XRP TAKING THE BIGGEST HIT? 🤔 My probability-based assessment: 1️⃣ 30% – LEVERAGE FLUSH: Long liquidations and weak buying demand accelerating the crash! 2️⃣ 20% – OGs SELLING: Early holders potentially taking profits and rotating into other coins! 3️⃣ 50% – MANIPULATION: A deliberate liquidity hunt to shake out weak hands! ⚠️ These are my subjective estimates, NOT proven facts. 🎯 $1.00–$1.04: Critical stabilization zone. 🚀 $1.15 → $1.25: Levels bulls need to reclaim! MY TAKE: I favor Manipulation to scare the newbies. But the BIG question is whether whales are absorbing the selling or joining it! MEN LIE. WOMEN LIE. CHARTS & NUMBERS DON’T LIE! ⚔️🔥 #EGRAGCRYPTO ripple:native
— EGRAG CRYPTO (@egragcrypto) November 10, 2026
Spot Demand Has Also Weakened
The problem is not only leverage.
U.S. spot XRP ETFs recorded about $10.4 million in net outflows on November 9 based on partial reporting, their largest daily outflow in roughly 90 trading days.
At the same time, XRP remains around 30% below its October highs near $1.60.
That means the market has fewer strong buyers absorbing the coins being sold during each breakdown.
Exchange activity also points to increased selling pressure.
Data cited by CryptoQuant contributor Amr Taha showed Coinbase, Bybit and Crypto.com collectively recording 4,744 more XRP depositing wallets than withdrawing wallets on November 9, the strongest such reading since August.
That does not prove whales are dumping XRP, but it does show more coins moving toward venues where they can potentially be sold.
Read also: Latest AI XRP Price Prediction: Selling Pressure Stays Heavy
Is XRP Being Manipulated?
EGRAG assigns a 50% subjective probability to deliberate manipulation or a liquidity hunt designed to remove weaker holders.
There is no public evidence proving that explanation.
What can be said is that XRP’s market structure has made it vulnerable to liquidity sweeps.
Heavy long positioning, weak spot demand and clustered support levels can create exactly the kind of fast downside move that traders often describe as a “stop hunt,” even without coordinated manipulation.
So the XRP price action can look manipulated without that being the only explanation.
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