XRP fell to $1.19 amid massive cryptocurrency sell-off

The cryptocurrency XRP sharply depreciated amid a massive sell-off of digital assets on November 5-6, 2026. After a brief rise to approximately $1.35, the token lost its position above $1.30 and $1.20, dropping to $1.19 on the morning of November 6. The 24-hour decline was about 9%, depending on the trading platform and measurement time.

The drop in XRP coincided with a worsening situation in the cryptocurrency market. Bitcoin, which had previously risen above $81,000, fell to $75,000–76,000. Ethereum and other major digital assets were also under pressure.

Amid the sell-off, XRP showed a stronger decline than Bitcoin. According to trading platforms, its market capitalization approached $75 billion.

On November 4, XRP was recovering from a previous decline and reached $1.34–1.35. However, it failed to hold at the achieved levels, and the subsequent wave of sales completely negated the short-term growth.

Earlier, cryptocurrency analyst Ali Martinez suggested that holding XRP above $1.28 could support further recovery. However, the next day the price fell below this mark and then lost support around $1.20.

Why XRP accumulation data didn't stop the decline

On November 5, Martinez noted the increased activity of large XRP holders. According to data he provided from Santiment, about 13.24 million tokens were withdrawn from exchange addresses at approximately 01:00 UTC.

The analyst also reported that over the preceding week, the aggregate balances of large addresses increased by approximately 60 million XRP.

Withdrawing tokens from exchanges potentially reduces the volume of assets directly available for sale. However, such operations do not necessarily indicate long-term accumulation: some transfers may be related to moving funds between wallets and platforms.

Moreover, Martinez did not establish a direct link between the tokens withdrawn from exchanges and the increase in the balances of large holders.

An additional factor of uncertainty was the weak capital flows into XRP exchange-traded funds. According to ETF aggregators, early November was accompanied by a small net outflow on November 2 and a lack of significant new inflows in the following trading days.

However, it cannot be stated that ETF activity specifically caused the price drop. The movement of XRP occurred simultaneously with the overall sell-off in the cryptocurrency market.

Martinez also suggested the formation of an inverted "head and shoulders" pattern on the daily chart, which in technical analysis is considered a possible reversal signal.

In his assessment, to confirm the scenario, XRP would need to overcome the level around $1.60. In this case, the next conditional target could be $2.10.

However, after falling to $1.19, this scenario remains unconfirmed. The further dynamics of XRP will depend not only on the behavior of large holders and ETF flows but also on the overall situation in the cryptocurrency market.