XRP Severely Underperforms Bitcoin as Monthly Plunge Exceeds 20%, Threatening $1 Mark

TradingKey - XRP has severely underperformed Bitcoin, plunging more than 20% in a single month and risking further declines below the key $1 level.

On November 9, Ripple (XRP) suffered a fifth consecutive day of declines, sliding over 6% today to widen its one-month drop to more than 20%, far outpacing Bitcoin's 9% decline over the same period. XRP has now lost the $1.10 level, sinking to $1.0847 to hit a fresh three-month low. As technical support breaks down, the market is closely watching whether XRP will decisively break below the key $1 psychological threshold.

Over the prior two months, Ripple fluctuated at elevated levels between $1.20 and $1.70. However, the outcome of the U.S. midterm elections broke this range-bound pattern. On November 5, after briefly rebounding above $1.30, XRP retreated rapidly and broke below strong support at $1.20, continuing its downward slide thereafter.

Following the Democrats' sweep of both the Senate and the House of Representatives, the market widely expects that the legislative process for the Clarity Act—previously viewed as favorable to the crypto industry and cross-border payments—will be forced to stall or undergo significant revisions. Concerns that an SEC-led new regulatory regime will impose tighter rules on cross-border payment tokens, DeFi yields, and institutional custody have dampened the macro narrative surrounding Ripple's expansion within the U.S. institutional payment ecosystem.

Currently, XRP is fighting a critical short-term battle to defend the psychological $1.00 level. If Bitcoin can stabilize around $75,000, XRP could find strong spot buying support at the $1.00 mark and subsequently consolidate within a $1.00–$1.38 range for several quarters. Conversely, if Bitcoin breaks below its four-month key support at $75,000, it is expected to extend its decline, which could drag XRP down further to test the $1 level.

XRP price chart, Source: TradingView

With the U.S. scheduled to release CPI and PPI data this week, if inflation fails to cool and lingering risk-off sentiment triggers a decisive break below the $1.00 mark, it could spark technical stop-loss selling and leveraged liquidations, driving prices further toward the August low near $0.98 in search of deeper valuation support.