The Ripple XRP token fell to $1.0216 on Binance on Thursday, November 12, its lowest price since August, even as Ripple CEO Brad Garlinghouse has spent two weeks telling holders that XRP remains the company’s “north star”.
XRP trades at $1.0355, down 2% on the day and 21% on the week. It is now 72% below its July 2025 record of $3.65.
The slide started right after Ripple’s Swell conference in New York. There, on October 28, Garlinghouse said “We will never give up on XRP”, answering holders who fear the company is moving its focus to RLUSD, its dollar stablecoin.
XRP closed that day at $1.326. Since then, it has lost 21.9%, twice Bitcoin’s 10.7% drop over the same days.
JUST IN: Ripple's $XRP Ledger moves closer to institutional lending launch, paving the way for banks to borrow, lend and generate yield on digital assets – a major step toward transforming XRPL into a full-scale financial infrastructure network. pic.twitter.com/nPtVt8D3Q7
— Whale Insider (@WhaleInsider) November 12, 2026
XRP is losing ground against Bitcoin too. One XRP now buys 1,425 satoshis, the smallest unit of Bitcoin, the weakest ratio since November 2024.
So what exactly has Garlinghouse promised, and what is Ripple’s plan for XRP while the price keeps sliding?
Garlinghouse: RLUSD “Isn’t Competing With XRP”
The main worry among holders is simple. RLUSD has grown fast, and some fear Ripple will push its stablecoin to banks instead of XRP. Garlinghouse has answered that three times since late October.
- October 28, Swell: “We will never give up on XRP,” he said on stage. He called XRP and RLUSD “very complementary” and said Ripple “will never do something we think is bad for the XRP ecosystem.”
- November 3, on X: “RLUSD isn’t competing with XRP. It’s competing with other stablecoins,” he wrote. “Use case matters, and I want those use cases running on the XRPL.”
- November 4, interview: He said XRP is what Ripple calls “internally our north star” and added: “We only want to do things that are good for XRP.”
He also pushed back on another common claim, that Ripple controls the XRP Ledger. He said the company runs only a small single-digit share of the network’s validators, the computers that confirm transactions.
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Ripple’s Plan Runs Through the XRP Ledger, Not the Token Price
Ripple’s plan, as it laid out at Swell, is to bring more bank money onto the XRP Ledger. The company said on October 28 that its products handled more than $16 trillion of transactions in 2025. It expects to end 2026 with $900 million in yearly product revenue.
- RLUSD on the ledger: The stablecoin is worth $2.6 billion, up more than 88% this year. Garlinghouse says about half of it was issued on the XRP Ledger. Every RLUSD transfer on that network pays a small fee in XRP.
- New ledger features: Ripple named Permissioned Delegation and Batch Transactions, two upgrades that let institutions hand off tasks and bundle many payments into one.
- Treasury products: Ripple’s new 24/7 Returns service for corporate cash uses RLUSD and tokenized money market funds that live on the XRP Ledger.
- The target: Garlinghouse said 99.9% of those $16 trillion still moves over old bank rails, and he hopes to report 1% to 3% moved on-chain next year.
That is the gap holders keep pointing to. Ripple’s business is growing, but most of that growth shows up in RLUSD and in fees, not in demand for XRP itself. Garlinghouse’s answer is that more activity on the XRP Ledger helps the Ripple XRP token in the long run. He expects XRP to become “the institutional gold standard for crypto rails” within five years.
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Ripple XRP Has Fallen Twice as Fast as Bitcoin Since Swell
We tracked the Ripple XRP daily close from each of Garlinghouse’s three statements to Thursday.
- Since October 28 (“never give up”): XRP is down 21.9%, from $1.326. Bitcoin is down 10.7%.
- Since November 3 (X post): XRP is down 18.9%, from $1.277.
- Since November 4 (“north star”): XRP is down 20.7%, from $1.305.
None of the statements stopped the slide for more than a day. On November 4, the day of the “north star” interview, XRP rose 2.2%. It fell 7.5% the next day, as the wider crypto market turned lower.
Ripple XRP Price Analysis: Can $1 Hold Again?
On the daily chart, where each candle covers one day, XRP trades at $1.0338. It sits well under its 50-day exponential moving average (EMA), an average that gives recent prices more weight, at $1.2736, and its 200-day EMA at $1.3440.
The last time XRP was this low, in mid-August, buyers stepped in just under $1 and pushed it to $1.70 within days.
- Resistance: $1.1063, the November 10 high, then $1.1699, the November 8 high.
- Support: $1.0092, the June 26 low, then $0.9862, the August 14 low and the lowest price of 2026.
XRPUSDT 1D chart. Source: TradingView
| Path | What has to happen | Next stop |
|---|---|---|
| Push higher | A daily close above $1.1063 | $1.1699, the November 8 high |
| Stall | Holding between $1.0092 and $1.1063 | A base just above $1 |
| Slip | A daily close below $0.9862 | A new 2026 low, well under $1 |
For Ripple XRP holders, the company’s message is that the ledger matters more than this month’s price. The market is not buying it yet. The $0.9862 low from August is the level that decides whether XRP gets another bounce like that one or sets a new low for the year below $1.
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The post XRP Price Falls 22% Since Garlinghouse’s “Never Give Up” Pledge: What Is Ripple’s Plan? appeared first on 99Bitcoins.
