The cryptocurrency market erased its previous session's gains on November 6, 2026, with Ripple's XRP leading losses among major altcoins and sliding to its lowest level in more than eleven weeks.
XRP fell as low as $1.185, breaching that level for the first time since the August 22 crash. The token lost support at $1.30 and $1.20, tumbling 9.5% over 24 hours and underperforming the top 30 altcoins. Its market capitalization dropped to about $75 billion, widening the gap with BNB, which held near $90 billion despite a recent Binance security incident.
The sell-off was part of a broader market retreat. Bitcoin declined 5.9% to $75,604.10 after being rejected near $81,000. Ethereum fell 7.9% to $2,224.16 and Solana dropped 6.4% to $89.46. BNB lost 3.2%, Dogecoin slid 6.4%, and Zcash declined 4.2%.
XRP's weakness followed a failed breakout. Just 36 hours earlier, XRP had surged to $1.35 after analyst Ali Martinez highlighted that a close above $1.28 could open the door to larger gains. Martinez also cited on-chain data showing more than 13 million XRP withdrawn from exchanges and whale holdings increasing by 60 million tokens within a week. He suggested an inverse head-and-shoulders pattern could push XRP toward $1.60 and then $2.10.
However, the move proved to be a false breakout. Spot XRP exchange-traded funds registered little to no demand at the start of November; after a minor outflow on Monday, flows were flat on Tuesday, Wednesday, and Thursday, according to SoSoValue. The stalled ETF activity, combined with the market-wide downturn, left XRP unable to sustain its rebound.
While smaller tokens such as Akedo, DENIM, and UnifAI posted gains, the overall digital asset market recorded heavy losses, with XRP registering the steepest decline among leading assets.
