XRP slid to $2.30 on November 3, 2025, down 8.24% in 24 hours, as the token mirrored the broader cryptocurrency market downturn triggered by macroeconomic concerns and a wave of leveraged liquidations.
Macro Pressure and Fed Impact
The decline comes amid renewed caution across risk assets following Federal Reserve Chair Jerome Powell’s comments that another rate cut in December is “not guaranteed.” The statement strengthened the U.S. dollar and dampened demand for high-volatility assets like crypto, sending major tokens, including Bitcoin and Ethereum, lower.
Mass Liquidations Accelerate the Drop
According to data from CoinGlass, over $1 billion in leveraged positions were liquidated market-wide on November 3, with XRP among the hardest-hit assets. This forced selling amplified downward pressure, contributing to the sharp intraday slide.
Ripple Escrow Activity Adds Speculation
On November 1, Ripple executed its scheduled 1 billion XRP escrow unlock, a standard monthly event. However, blockchain data showing smaller tranches moving to unidentified wallets sparked renewed speculation about institutional transfers and market supply.
Market Sentiment and Volume Shifts
Despite the decline, XRP’s 24-hour trading volume surged 170% to $6.3 billion, reflecting aggressive repositioning by traders. Meanwhile, a reduction in open interest suggests fading retail momentum after last week’s rally near $2.50.
Analysts note that XRP remains structurally bullish on the weekly chart, but short-term corrections may persist until volatility subsides and ETF-related optimism returns later in November.