Here’s why XRP lost nearly $6 billion in a week
In this news:
Key takeaways
- XRP market capitalization dropped by nearly $6 billion over a seven-day period.
- U.S. spot XRP ETFs recorded their first weekly net outflow after 13 consecutive weeks of gains.
- Analyst Ali Martinez suggests the correction has ended after retesting a major support level.
XRP market cap drops amid whale selloffs
Even though the XRP Ledger saw its daily transaction volume explode to nearly $50 billion on October 19, 2026, XRP wiped out nearly $6 billion in seven days, following a renewed whale selloff.
Over the past week, XRP had lost $5.83 billion, down from $88.22 billion on October 12 to approximately $82.39 billion at the time of writing, according to crypto data Finbold sourced from CoinMarketCap. This represents a 6.61% plunge over the previous 7 days.
Despite the token’s 24-hour average trading volume rocketing nearly 58% today, hovering at $1.78 billion at the time of reporting, its United States spot exchange-traded funds shifted negative for the first time after registering 13 consecutive weeks of cash inflows.
U.S. spot ETFs record first weekly outflow
After 13 consecutive weeks of cash inflows, the U.S. spot ETFs closed last week with $1.84 million in net outflow, as per metrics Finbold fetched from SoSoValue.
As a result, these funds collectively hold assets valued at around $1.47 billion.
Analyst outlook on price support levels
Following XRP’s 20% correction over the past four weeks, it has retested a major support level around $1.30, which was reclaimed during its third-quarter bull run.
Consequently, crypto analyst Ali Martinez noted earlier on Monday that the token’s correction has ended, thereby signaling a potential rebound.
He argued that the ledger's transaction volume has skyrocketed overnight after a calm week, as the token’s price rebounded from a strong support level. However, a sustained rebound needs renewed demand from U.S. XRP ETFs.
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