- 1. Key Takeaways
- 2. Why Is XRP Dropping Right Now?
- 3. Reason 1: October's 16% Decline and Bitcoin's Weakness
- 4. Reason 2: The October 29 Binance Hack
- 5. Reason 3: XRP ETF Inflows Have Stalled
- 6. Reason 4: Ripple's Escrow Release and New Supply
- 7. Reason 5: Macro Pressure and Fearful Sentiment
- 8. Why Is XRP Dropping More Than Bitcoin?
- 9. Price Levels Traders Are Watching
- 10. What Could Stop the XRP Drop?
- 11. The February 2026 Crash: What Happened
- 12. Bottom Line: Why Is XRP Dropping?
- 13. Frequently Asked Questions
Last Updated: November 2, 2026
XRP price (November 2, 2026, about 21:05 UTC): ~$1.25
Quick Answer: XRP is not crashing today: it traded near $1.25 at about 21:05 UTC on November 2, 2026, roughly flat over 24 hours, according to CoinMarketCap. The drop people are asking about is October’s 16% slide, which ended with the October 29 Binance hack pushing XRP to about $1.20, while US spot XRP ETF inflows stalled and Ripple unlocked 1 billion XRP from escrow on November 1. XRP is down about 32% in 2026 and about 50% over 12 months.
Key Takeaways
- XRP traded near $1.25 at about 21:05 UTC on November 2, down 0.19% over 24 hours, 3.30% over seven days and 16.36% over 30 days, according to CoinMarketCap. Its market capitalization is about $78.9 billion.
- XRP fell about 16.0% in October 2026, from $1.49 to $1.25 on CoinMarketCap daily closes, more than twice Bitcoin’s 7.3% decline over the same month.
- The October 29 Binance hack, estimated at about $6.3 billion, cut XRP by about 6.8% that day and pushed it to about $1.20 on October 30, its lowest level of the month.
- US spot XRP ETFs took in only about $18.8 million in October, down from $307.9 million in the third quarter, and their net assets fell from $1.69 billion to $1.42 billion as the price dropped, according to SoSoValue data.
- Ripple released 1 billion XRP from escrow on November 1, and no re-lock had been reported as of November 2, after re-locks of about 700 million XRP in each of September and October.
- The February 2026 crash was smaller than widely reported: XRP fell about 32% from its February high to its February 6 low of $1.13, but closed the month down about 16.3%. It was the fourth-worst February on CoinMarketCap data, not the worst.
Why Is XRP Dropping Right Now?
XRP’s latest fall has five overlapping causes: a broad October decline in which XRP lost about twice as much as Bitcoin, the Binance hack of October 29, near-zero ETF demand, new supply from Ripple’s monthly escrow release, and a cautious macro backdrop with crypto sentiment stuck in Fear. None of them is new on November 2 itself; the price has held in a narrow band between about $1.20 and $1.27 since October 30.
The token had already slumped earlier in the year; see five reasons behind XRP’s 2026 price decline.
| Metric (CoinMarketCap) | Value |
|---|---|
| Price (Nov 2, ~21:05 UTC) | ~$1.25 |
| 24-hour change | -0.19% |
| 7-day change | -3.30% |
| 30-day change | -16.36% |
| October 2026 change | -16.0% |
| Change in 2026 (from Dec 31, 2025 close of $1.84) | about -32% |
| 12-month change | about -50% |
| Market cap | ~$78.9 billion |
| 24-hour volume | ~$1.55 billion |
| All-time high | $3.84 (January 4, 2018) |
XRP sits about 66% below its July 2025 peak near $3.65 and about 68% below its CoinMarketCap all-time high of $3.84 from January 2018. Our XRP News Today hub tracks the daily moves.
Reason 1: October’s 16% Decline and Bitcoin’s Weakness
XRP entered October near $1.49 and briefly traded above $1.54 on October 2. It then lost ground through the month: a two-day drop on October 7 and 8 took it below $1.40, it slipped under $1.30 in mid-October, and it was trading around $1.27 to $1.34 in the days before the Binance hack. It closed October at about $1.25, down 16.0% on CoinMarketCap daily closes.
Bitcoin fell only about 7.3% in October, from about $83,550 to about $77,430, and Ether lost about 16.1%. XRP has tended to move with the wider market but with bigger swings, and in 2026 it has lagged: it is down about 32% this year against about 12% for Bitcoin. For the market-wide picture, see our explainer on why crypto is down today.
Reason 2: The October 29 Binance Hack
The largest theft from a crypto exchange on record hit an already weak market. Binance was hacked on October 29, with losses estimated at about $6.3 billion, and XRP fell about 6.8% that day on CoinMarketCap data, then touched about $1.20 on October 30. According to TRM Labs data cited by CoinDesk, about 233.46 million XRP were among the stolen assets, worth about $291 million at today’s price.
The FBI has attributed the theft to TraderTraitor, a North Korean hacking group. Binance began reopening withdrawals in phases on November 1, and the XRP Ledger was among the 15 networks in the first phase. On November 2 Binance said the zero-knowledge proof for its October 31 reserves snapshot is complete, with the next withdrawal phase planned for November 3 and the next snapshot for November 4. Binance says it has replenished about 95% of the stolen amount and that its XRP balances are fully backed; those are the exchange’s own figures and have not been independently verified. Our report on Binance reopening withdrawals has the timeline.
Reason 3: XRP ETF Inflows Have Stalled
ETF demand, which supported XRP through much of 2026, has faded. US spot XRP ETFs took in about $307.9 million in the third quarter, including about $159.2 million in August and $121.4 million in September, but only about $18.8 million in October, according to SoSoValue data. Net flows were close to zero in several October weeks, and the funds saw a small net outflow of about $496,000 on October 30.
Total net assets of the five spot funds fell from about $1.69 billion on October 1 to $1.42 billion on October 30, while cumulative inflows stayed near $1.81 billion. That means the decline in assets came mostly from the falling price, not from investors pulling money out. Spot XRP ETFs hold about 1.8% of XRP’s market capitalization. Our XRP ETF guide lists every fund.
Reason 4: Ripple’s Escrow Release and New Supply
Ripple unlocks 1 billion XRP from escrow on the first day of each month under a schedule set in 2017. The November release completed early on November 1 in two transactions of 500 million XRP, reducing the escrow balance from about 31.4 billion to about 30.4 billion XRP, according to on-chain trackers cited by crypto.news and Coinpaper.
In September and October Ripple returned about 700 million XRP to new escrow contracts, which leaves about 300 million XRP of net new supply a month. As of November 2 we found no report of a re-lock from the November release. An unlock does not by itself mean Ripple is selling, but traders watch it as potential supply at a time when buying demand is weak. See our explainer on the 1 billion XRP escrow unlock.
Reason 5: Macro Pressure and Fearful Sentiment
The backdrop has not helped riskier assets. The Federal Reserve held its target range at 3.75% to 4% on October 28, and two voting members preferred a rate increase. In crypto, the Fear and Greed Index from alternative.me read 37, Fear, on November 2, up from 30 on October 30 and 31 (our Fear and Greed Index explainer shows how to read it).
Fear readings like this have preceded deeper slides, as in October 2025, when the market saw a continuous plunge amid growing fear.
In Washington, the CLARITY Act, the market structure bill that would set out how tokens such as XRP are regulated, failed a Senate procedural vote 49 to 50 on September 15, 2026 and has not been enacted, so the legal framework many XRP holders were counting on is still missing. Our CLARITY Act explainer covers the details.
Why Is XRP Dropping More Than Bitcoin?
XRP has fallen further than Bitcoin in the latest decline and over the year. The figures below use CoinMarketCap daily closes.
| Period | XRP | Bitcoin |
|---|---|---|
| February 2026 | -16.3% | -14.8% |
| October 2026 | -16.0% | -7.3% |
| 2026 so far (to Nov 2) | about -32% | about -12% |
Several observable differences help explain the gap. Spot ETFs hold about 1.8% of XRP’s market value against about 6.4% for Bitcoin, so XRP has a smaller base of steady fund demand. XRP also faces about 300 million tokens a month of net new supply from the escrow program when Ripple re-locks 700 million, and the October 29 hack hit an altcoin market that was already weaker than Bitcoin. In February, by contrast, XRP and Bitcoin fell by similar amounts.
Price Levels Traders Are Watching
These are observed levels from recent trading, not forecasts.
| Level | Why it matters |
|---|---|
| $1.34 | October 28 high before the Binance hack |
| $1.27 | Area where every rebound since October 30 has stalled |
| $1.24 | Near the lows of the past three days |
| $1.20 | October 30 low after the hack |
| $1.13 | February 6, 2026 low |
| $0.99 | August 2026 low, the only time XRP traded below $1 this year |
XRP has moved between about $1.20 and $1.27 since October 30. A move below $1.20 would set a new low for the autumn, while a daily close above $1.27 would bring the pre-hack high near $1.34 back into view.
What Could Stop the XRP Drop?
Several dated events could change the picture in November. Binance plans the next phase of withdrawals for November 3 and a new reserves snapshot for November 4; smooth progress could ease the pressure the hack put on the market. The fixCleanup3_4_0 amendment to the XRP Ledger is on course to activate on November 4 if validator support holds, according to XRPScan data. ETF flows are the other signal to watch, since a return to the inflows of August and September would add steady demand.
The legal backdrop is settled. On August 7, 2025, the SEC and Ripple filed a joint stipulation dismissing both appeals, ending the case the SEC brought in December 2020; a $125,035,150 penalty and an injunction remain in place, according to the SEC. Ripple’s business news has been positive: it received final approval from the OCC for a national trust bank on October 26, BNY added support for XRP and RLUSD on its custody platform on October 27, and on October 28 Ripple said it is on track to exit 2026 with about $900 million in annualized product revenue, according to Ripple. That is the company’s own, unaudited figure, and holders of XRP receive no share of Ripple’s revenue.
Published forecasts for the end of 2026 vary widely. CoinLore’s base case is about $0.89 (updated November 2), CoinCodex expects a December average of about $1.31 (updated November 1), and Standard Chartered cut its end-2026 target from $8 to $2.80 in a February 12, 2026 note. We do not publish price targets of our own; our XRP price prediction compares the models.
The February 2026 Crash: What Happened
This section covers the earlier sell-off that this page first explained in February 2026, with figures corrected against CoinMarketCap data.
XRP closed January 2026 at about $1.65, already down from a January 6 high of about $2.41. It slid through the first days of February and then fell about 19.7% on February 5 alone, closing near $1.21, before touching a low of about $1.13 on February 6, its lowest level since November 2024. From its February high of about $1.67 to that low, XRP lost about 32%. It recovered part of the drop and closed February at about $1.38, down about 16.3% for the month. From its January 6 high to its February 6 low, the decline was about 53%.
Bitcoin’s Breakdown
Bitcoin closed January near $78,600 and fell about 14% on February 5, then touched about $60,070 on February 6 on CoinMarketCap data, its lowest level since September 2024 according to ForkLog. Bitcoin ended February down about 14.8%, close to XRP’s 16.3%. Altcoins, including XRP, followed Bitcoin lower.
Liquidations
Forced selling of leveraged positions deepened the fall. About $2.59 billion of positions were liquidated in one day as Bitcoin tested $60,000, about $2.11 billion of it from long positions, according to CoinGlass data reported by ForkLog on February 6. Earlier versions of this page cited a “Black Sunday II” event on February 1 and 2 with $2.2 billion in liquidations and 335,000 traders affected; we could not verify those figures and have removed them.
ETF Flows
The ETF picture was different from what was widely reported at the time. US spot XRP ETFs had gathered about $1.17 billion in net inflows by the end of 2025, and the best inflow day of 2026 so far, about $46.1 million on January 5, came as XRP jumped about 12% that day. Flows then turned choppy in January, with outflows of about $53.3 million on January 20 and about $92.9 million on January 29, the largest daily outflow of 2026, according to SoSoValue data. February itself brought net inflows of about $58.1 million, more than January’s $15.6 million, but that was not enough to offset selling elsewhere.
Technical Breakdown
On the chart, XRP lost the $1.60 area at the start of February and the drop accelerated once it broke below $1.50 on February 5. After the crash it traded mostly between about $1.35 and $1.50 for the rest of the month. These are observed levels, not forecasts.
February Seasonality
February has often been weak for XRP, but 2026 was not its worst February. On CoinMarketCap monthly data, XRP fell in 8 of the 12 Februarys from 2014 to 2025, with a median change of about -8.1%. The worst were 2014 (about -33.4%), 2025 (about -29.3%) and 2018 (about -22.2%); 2026’s -16.3% ranks fourth. Past seasonal patterns do not predict future months.
| February | XRP change (CoinMarketCap) |
|---|---|
| 2014 | -33.4% |
| 2018 | -22.2% |
| 2021 | -15.7% |
| 2022 | +26.3% |
| 2024 | +16.5% |
| 2025 | -29.3% |
| 2026 | -16.3% |
At the time, Standard Chartered cut its end-2026 XRP target from $8 to $2.80 in a February 12 note and said it expected further near-term declines, according to DL News and CCN. Earlier versions of this page still cited the $8 target; that figure was out of date. XRP has since traded below its February low, falling under $1 in August 2026, and is about 9.5% below its February close today.
Bottom Line: Why Is XRP Dropping?
As of November 2, 2026, XRP is near $1.25 because of a 16% October decline that the October 29 Binance hack made worse, near-zero ETF inflows, a fresh 1 billion XRP escrow release with no re-lock reported, and a cautious macro backdrop. The price has steadied between about $1.20 and $1.27 since October 30. Binance’s next steps on November 3 and 4, ETF flows and any re-lock of the November escrow release are the next things to watch. For a wider view of the token’s prospects, see is XRP dead?, and check claims against primary sources with our guide on how to verify crypto news and rumors.
This article is for informational purposes only and does not constitute financial advice. Cryptocurrency markets are volatile; always do your own research before investing.
Frequently Asked Questions
Why is XRP dropping today?
XRP is roughly flat today, trading near $1.25 at about 21:05 UTC on November 2, 2026, down 0.19% over 24 hours, according to CoinMarketCap. The decline people notice is October’s 16% slide, deepened by the October 29 Binance hack, plus stalled ETF inflows and Ripple’s 1 billion XRP escrow release on November 1. XRP is down about 32% this year.
Why did XRP drop in October 2026?
XRP fell about 16% in October, from $1.49 to $1.25 on CoinMarketCap closes. The market weakened through the month, Bitcoin lost about 7.3%, and the Binance hack on October 29 cut XRP by about 6.8% in a day. US spot XRP ETFs took in only about $18.8 million in October, far below the $307.9 million of the third quarter.
Did the Binance hack cause XRP to fall?
It made an existing decline worse. XRP fell about 6.8% on October 29, when news of the roughly $6.3 billion theft spread, and touched about $1.20 on October 30. About 233 million XRP were among the stolen assets, according to TRM Labs data cited by CoinDesk. Binance reopened XRP Ledger withdrawals on November 1 and says its XRP balances are fully backed.
Are XRP ETF outflows pushing the price down?
Not mainly. US spot XRP ETFs saw small net inflows of about $18.8 million in October and only minor outflow days, such as about $496,000 on October 30. Their net assets fell from $1.69 billion to $1.42 billion because the price dropped. The issue is weak demand: inflows that supported XRP in August and September have almost stopped.
Does Ripple’s escrow release make XRP drop?
Not directly. Ripple unlocks 1 billion XRP on the first of each month under a 2017 schedule and usually returns most of it to escrow; about 700 million went back in each of September and October. That leaves roughly 300 million XRP of net new supply a month. No re-lock of the November 1 release had been reported as of November 2.
Why is XRP dropping more than Bitcoin?
XRP fell about 16% in October while Bitcoin lost about 7.3%, and XRP is down about 32% this year against about 12% for Bitcoin, on CoinMarketCap data. Spot ETFs hold a smaller share of XRP’s value, about 1.8% against about 6.4% for Bitcoin, and XRP also faces monthly escrow supply. In February 2026 both fell by similar amounts.
Is XRP dropping because of the SEC?
No. The SEC case against Ripple ended on August 7, 2025, when both sides filed a joint stipulation dismissing their appeals; a $125 million penalty and an injunction remain in place. In March 2026 the SEC, joined by the CFTC, named XRP among examples of digital commodities. The recent decline reflects market conditions, the Binance hack, weak ETF demand and supply, not the lawsuit.
How low can XRP go?
Nobody can say for certain. The recent observed lows are about $1.20 on October 30, $1.13 on February 6 and about $0.99 in August 2026, the only time XRP traded below $1 this year. Among published models, CoinLore’s base case for the end of 2026 is about $0.89 and its bear case about $0.53, as of November 2, 2026.
Will XRP recover in 2026?
Forecasts differ. CoinCodex expects a December 2026 average of about $1.31, CoinLore’s base case is about $0.89, and Standard Chartered’s end-2026 target is $2.80 after a February cut from $8. Events to watch include Binance’s restart steps on November 3 and 4, ETF inflows, escrow re-locks and the wider market. These are forecasts, not guarantees, and we publish no targets.
Why did XRP crash in February 2026?
XRP fell about 32% from its February high to a low of about $1.13 on February 6, then closed the month down about 16.3%. Bitcoin’s drop toward $60,000 and about $2.59 billion of liquidations in one day, according to CoinGlass data reported by ForkLog, drove the move. It was XRP’s fourth-worst February on CoinMarketCap data, not its worst.
Data sources: CoinMarketCap (XRP and Bitcoin prices, market cap, volume, changes and daily data for January, February and October 2026, monthly February data from 2014), SoSoValue (US spot XRP ETF flows and net assets), Binance statements, TRM Labs via CoinDesk, the FBI, on-chain escrow trackers via crypto.news and Coinpaper, XRPScan, the Federal Reserve, alternative.me (Fear and Greed Index), the SEC, Ripple press releases, CoinGlass via ForkLog, DL News and CCN (Standard Chartered), CoinCodex and CoinLore (forecasts).
