Gemini, one of the largest U.S. crypto exchanges led by the Winklevoss brothers, has released an analysis of the current market downturn, highlighting the altcoins that have suffered the steepest drawdowns. XRP ranks among the top four losers with a 43.43% decline since the start of 2026, while Bitcoin Cash (BCH) leads the pack with a 61.76% loss.
BTC Dominance Surpasses 60% As XRP Struggles
Even though slipping slightly softer than XRP, other competing altcoins such as Solana (SOL) and Hedera Hashgraph (HBAR) were also named on the list, soaking up a 34.02% and 38.13% deficit, respectively. These declines occurred amid a crypto market cap near $2.5 trillion on November 11, 2026, with Bitcoin dominance around 60%.
There’s a couple of key factors that established such a trend: liquidity slimming, the weakening speculative interest, lackluster institutional interest and general macroeconomic conditions are all major factors. However, that could provide the right setup for a bounce‑back rally if the retail interest returns along with the big‑time player purchases.
XRP Bulls Monitoring Critical Level Ahead Of Potential Rebound
Ripple continues its expansion in the institutional payments sector, stablecoin and tokenization areas, but that hasn’t necessarily translated into sustained buying interest for XRP. On the other hand, XRP’s involvement in Ripple’s native stablecoin trades on the decentralized exchange (DEX) has refuted the broader claims about XRP being pushed out of the ecosystem.
On the contrary, Ripple’s native XRP coin accounted for 92% of Ripple’s RLUSD swaps on the exchange, the latest Evernorth research paper states. However, the backtracking towards $1.10 this week comes after a similar setup witnessed last Summer, when XRP’s price bounced off the same liquidity pockets prior to securing $1.67 as the quarterly high, CoinGecko says.
XRP bulls had to resort to $1.058, a level falling hard below all four moving‑average thresholds, following a $1.21 million liquidation event on Perpetuals. This has pushed the long versus short ratio to 0.9912, meaning short‑sellers still have a slight advantage over the XRP bulls. Liquidity pockets around $0.98 to $1.05 will be of crucial importance for the near‑term direction.
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