XRP Drops to $2 as Spot ETF Launches Trigger $18.25M in Liquidations

XRP fell to approximately $2.00 on November 20, 2025, as multiple spot ETFs began trading, including the Bitwise XRP ETF on the New York Stock Exchange. The token declined roughly 3% in 24 hours and over 16% for the week. Futures liquidations totaled $18.25 million, with long positions accounting for $16 million. The Bitwise fund recorded $14.26 million in opening-day trading volume.