XRP falls 33% since November 4, leading market losses as analyst warns of further downside

XRP recorded a steep decline of 33.07% since November 4, marking the largest drop among major cryptocurrencies, according to market analyst EGRAG Crypto. The broad selloff also pulled down Ethereum by 30.02%, Solana by 30.99%, and Bitcoin by 23.61% during the same timeframe, leaving traders to question whether this correction signals a market bottom or the potential for further declines.

Altcoins post sharper losses than Bitcoin

EGRAG Crypto, a widely followed market analyst known for detailed technical comparisons among digital assets, highlighted how the current correction has impacted four leading tokens differently. While all tracked coins suffered sizeable losses since November 4, the altcoins faced a particularly severe downturn.

XRP, the native cryptocurrency of the Ripple network used for cross-border payments, led the declines by a significant margin, falling 33.07%. Solana, a blockchain platform optimized for high-throughput decentralized applications, dropped 30.99%, while Ethereum, the leading smart contract platform, fell by 30.02%. Bitcoin, widely regarded as the crypto market benchmark, registered a 23.61% decline and displayed relatively greater resilience in the period analyzed.

EGRAG’s analysis emphasized that altcoins suffered larger percentage drops compared to Bitcoin. The losses observed in Ethereum and Solana were within a percentage point of each other, suggesting similar trading pressures. The analyst did not identify a single catalyst behind the sharp market correction, underscoring that it was likely driven by a combination of factors rather than a specific event.

Despite noting a possible resemblance to the 2015 bottoming structure, EGRAG stated that confirmation from market price action is necessary before he will commit to a directional view. He highlighted the importance of waiting for technical signals and evidence of stabilization before calling a bottom.

The recent wave of liquidations contributed to additional price pressure across several large-cap cryptocurrencies. Bitcoin continued to trade at $65,925, reflecting a 1.77% daily loss as leveraged positions unwound.

Analyst urges caution as market seeks direction

The prevailing market downturn has raised questions among traders about whether the decline represents capitulation or signals the potential for further downside. EGRAG suggested that historical analogies, such as the 2015 market bottom, could be informative but cautioned against expecting an identical outcome, especially given significant changes in the market’s structure and trading environment.

The comparison between large-cap assets shows Bitcoin retaining greater relative strength, but analysts remain uncertain if this performance gap implies Bitcoin has found a stable floor. Steeper losses in XRP, Ethereum, and Solana may reflect heightened risk aversion among investors, but do not yet guarantee a reversal is imminent.

Traders continue to monitor technical patterns and key support levels for signs of recovery. However, as of now, EGRAG has not specified targets or timelines for a potential rebound and maintains a cautious outlook until more evidence emerges in the price action.

He also urged traders to resist making emotional decisions during episodes of heightened volatility and to approach leveraged trades with care, given the increased risk during rapid market swings.

Mini dictionary: EGRAG Crypto is a digital assets analyst known for in-depth market trend analysis and technical charting, often cited by the cryptocurrency trading community for his comparative studies of major coins during high-volatility periods.

Market participants are expected to watch for further signals, as the depth and duration of the current correction remains in focus.