XRP Hits 2-Year Low of $0.89 in Overnight Selloff

Overnight Slide to 89 Cents

In the early hours of Sunday, XRP dropped to 89 cents, its weakest print since early November 2024, when the token was still riding the wave of crypto-friendly policy promises that followed President Donald Trump's election victory. The move pushed the XRP price through a level it had not traded at in two years, and it came as bitcoin and ether fell to territory last visited in August, dragging the broader altcoin market lower with them. COINOTAG's live monitoring shows the token back at $0.9638 in the hours after the low, a 1.3% recovery since the low was first reported, though it remains 3.1% lower on the day and carries a market capitalization near $61.5 billion. The token, the native asset of a payments-focused blockchain, has long traded as one of the market's higher-beta large caps, and Sunday's move fit that pattern: no token-specific development drove the drop, only a withdrawal of money from the asset class. The scale of the retreat stands out even in a weak quarter. XRP has lost 36% this quarter alone and has been sliding since it peaked above $3.60 in July 2025, which means the token has surrendered most of the gains it built up around the November 2024 election, when expectations of lighter regulation had put the market strongly bid. The 89-cent print thus erases a two-year re-rating in one stretch of trading.

The bounce from the low has so far been shallow, and the question traders now face is whether the 89-cent area acts as a base or as a waystation toward a deeper slide. With the largest funds in the market also in outflow mode, there was no big-cap bid to lean on overnight, which left the low unguarded once selling started. COINOTAG's composite support and resistance scoring frames the field around the crash low. The strongest support sits at $0.8911, scored 73 out of 100, while the heaviest barrier waits overhead at $0.9808 with an 84 rating, per our XRP technical analysis. Momentum backs the bearish read: the relative strength index sits at 25.29, deep in oversold territory, and the MACD signal is bearish. In contract trading, the perpetual funding rate has turned negative at -0.0030%, and long accounts outnumber shorts 3.19 to 1, a crowded-long book that leaves room for further forced selling. The Crypto Fear and Greed Index reads 10 out of 100, extreme fear. A daily close below $0.8911 would open the weaker bands underneath, while a reclaim of $0.9808 would be the first evidence the downtrend is loosening.

ETF Outflows and a Shrinking Stablecoin Float

The selling pressure has visible plumbing behind it. U.S.-listed spot XRP ETFs, which hold the token directly and give holders exposure that mirrors spot trading, recorded net withdrawals of $19.13 million last week, the largest weekly outflow since March. The funds have pulled in around $1.5 billion since launching in November last year, a modest first year detailed in XRP ETF holdings after one year, and a small sum next to the several billion dollars that bitcoin and ether ETFs attracted in their own early months. Those larger products have also been bleeding in recent sessions, and the token had already marked a ninth straight daily loss before the weekend drop, a losing streak that built day by day rather than in a single session. Capital has been leaving through another door as well: the combined value of USDT and USDC in circulation, the two largest dollar-pegged stablecoins, has shrunk to $244 billion, its lowest level since September 2025. Stablecoins are tokens pegged to an external reference such as the dollar, which makes them the preferred rail for funding crypto purchases and cross-border payments, so a shrinking float removes buying power from the market directly. Neither USDT nor USDC is a yield-bearing stablecoin that pays interest for holding it, which means the contraction reads as money leaving crypto rather than rotating inside it. On-chain data shows the combined supply fell $17 billion over the past month, the steepest contraction since 2022. The total peaked near $270 billion in early May and has dropped from $260 billion in a near-straight line, a drawdown now in its seventh week that, at the latest reading, had not stabilized.