Another month begins much like the last, with the cryptocurrency market suffering heavily, shedding nearly $200 billion in less than 12 hours.

The decline seems driven by over-leveraged market participants, but no clear catalysts are apparent. As a result, certain altcoins face harsher impacts, including Ripple’s XRP.

While Ethereum (ETH) has dipped less than 6% daily and Binance Coin (BNB) has dropped by 5%, XRP has seen a significant fall of 7%, hitting $2 on most exchanges. This price has approached a crucial support level that has historically restrained its declines.

The buy wall for $XRP exists since $2
— CW (@CW8900) December 1, 2025

Interestingly, XRP’s price drop mirrors patterns observed during prior ETF launches for spot XRP. Recall that the initial product launched by Canary Capital saw a significant drop after its mid-November debut, despite a record-setting launch day.

Bitwise’s XRP also started strong, but similar drops followed, aligning with the broader market trend.

Many analysts are questioning whether the expected introduction of 21Shares’ spot XRP ETF today, designed to track the CME CF XRP-Dollar Reference Rate, will lead to another classic ‘buy the rumor, sell the news’ scenario.

Related Articles:

• Why CoinShares Just Quit the $600M XRP and SOL ETF Battle
• Binance XRP Reserves Sink to All-Time Low: Good or Bad for Ripple’s Price?
• Ripple (XRP) Open Interest Crashes to 1-Year Low: Here’s What It Means

They have to try and ruin every XRP ETF launch day 🤣🤣
— Cobb (@Cobb_XRPL) December 1, 2025

The four XRP ETFs already available for trading attracted over $660 million in total net inflows since the first was launched weeks ago. XRPC remains the largest with more than $340 million in cumulative netflows, followed by Bitwise’s XRP, Franklin’s XRPZ, and Grayscale’s GXRP.

As of the latest reports, XRP has dropped to $2.04, continuing to reflect a challenging year-to-date performance, declining from $2.32 at the start of 2025. This downturn contrasts sharply with Ripple’s best year ever, which can be explored in detail in the article titled Ripple’s Best Year Ever.