After a sharp correction from November highs, XRP is retesting $2.20, even as derivative activity cools noticeably across major exchanges.
The latest on-chain data and ETF-related flows reveal a shifting landscape for the XRP price, with investors balancing cautious sentiment against emerging institutional support.
Futures Market Cools as Open Interest Drops Sharply
New data from Glassnode shows a substantial unwinding of leverage in the XRP derivatives market. According to the firm, XRP futures open interest has dropped 59% since early October—falling from 1.7 billion XRP to 0.7 billion XRP.
XRP Futures Open Interest. Source: Glassnode
This contraction coincides with the XRP price stabilizing above the $2.19 support, following a failed attempt to hold above $3 earlier in the month. Analysts view this decline as a sign that traders are reducing exposure and adopting a more risk-controlled approach.
A second indicator confirms this cooling trend. The perpetual funding rate, averaged over seven days, has slid from 0.01% to 0.001%, signaling a significant retreat in leveraged long positions. Market researcher Daniel Chung noted that “a sharp drop in funding often reflects a shift from aggressive speculation to more balanced positioning,” suggesting that bullish momentum is entering a consolidation phase.
XRP Futures Perpetual Funding Rate. Source: Glassnode via X
Supporting this view, only 58.5% of the circulating XRP supply is currently in profit, the lowest percentage since November 2024. The remaining 41.5%—roughly 26.5 billion XRP—remains underwater, increasing the likelihood of sell-offs from recent buyers if volatility rises.
Short-Term Technical Setup: Support Holds as ETFs Boost Sentiment
Despite a more defensive tone in derivatives, short-term chart structure shows a mixed but improving picture. Market analyst MarzellCrypto identified a bullish flag pattern on XRP’s 4-hour chart, supported by a green Supertrend indicator and a break above the 23.6% Fibonacci retracement near $2.11.
XRP is showing a strengthening bullish outlook as key indicators flip positive, targeting the 50% Fibonacci level at $2.46 with potential extension toward $3. Source: @MarzellCrypto via X
Additional confidence emerges from early ETF demand. The Grayscale XRP ETF and Franklin XRP ETF, both launched on November 25, attracted $164 million in first-day inflows, highlighting renewed institutional interest in Ripple XRP news today.
As of November 30, 2025, the current XRP price stands at $2.18, according to Brave New Coin. While broader market sentiment remains bearish—reflected in a Fear & Greed Index reading of 25—several analysts argue that the ongoing consolidation above $2.15 may set the stage for a larger move if XRP reclaims resistance around $2.20–$2.30.
XRP Consolidates as Whale Distribution and Low On-Chain Activity Weigh on Momentum
The XRP Ledger (XRPL) shows clear signs of reduced network activity, echoing the quiet tone seen across the derivatives market. Santiment data reveals that daily active addresses have fallen to around 19,200, a dramatic decline from the 581,000 peak recorded in mid-June.
XRP Daily Active Address. Source: Santiment
Whale behavior adds another layer of pressure. Addresses holding 100,000 to 1 million XRP now control 9.81% of the supply, down from 10.21% in September.
Large holders in the 1 million to 10 million XRP category saw an even steeper decline—from 10.75% in early September to 6.75% today. Sustained selling from these groups historically correlates with weaker price recoveries.
Analysts warn that if whale distribution persists, the XRP price today could retest psychological support near $2.00, especially if macro uncertainty builds ahead of the upcoming Federal Reserve policy meeting.
Market Outlook
XRP enters December with a complex mix of stabilizing price action, weakening speculative demand, and strengthening institutional interest. The contraction in open interest underscores a more cautious derivatives environment, yet early success from new XRP ETFs, combined with technical support at $2.15, provides a foundation for potential recovery.
XRP was trading at around $2.20, down 0.43% in the last 24 hours at press time. Source: XRP price via Brave New Coin
For now, traders are watching three key levels:
While the market remains uncertain, analysts emphasize that XRP’s next major move will likely depend on ETF inflows, whale activity, and whether on-chain engagement can recover in the weeks ahead.