As of November 24, according to CoinMarketCap data, XRP ranks third in market popularity, with its price reaching $2.09 and a 24-hour gain of 2.87%.
Meanwhile, Shiba Inu has seen significant volatility in trading activity, with approximately 130 billion SHIB tokens flowing out of exchanges into private wallets. These two leading cryptocurrencies are heading down distinctly different paths.
01 XRP Trading Volume Surges
Over the past 24 hours, XRP’s market capitalization jumped from $115.3 billion to $122.49 billion, an increase of $7.19 billion or about 6.2%.
This remarkable influx of capital pushed XRP back above the key $2 psychological threshold. As of November 24, the XRP price stood at $2.09.
02 Spot ETF Catalyzes the Market
The immediate catalyst for this XRP rally is the upcoming launch of the spot XRP ETF.
Grayscale has confirmed its spot XRP ETF (GXRP) will be listed on NYSE Arca on November 24, 2025, following SEC approval to convert its existing trust into a publicly traded product.
This development is reminiscent of the ETF wave that reshaped the Bitcoin market in early 2024, when BTC surged more than 80% after spot ETFs opened the door to regulated capital inflows.
Bloomberg Intelligence analyst James Seyffart noted, "The coming week will be eventful," as Grayscale and Franklin Templeton’s US XRP ETFs are expected to launch on November 24.
03 Institutional Interest Soars
XRP futures activity on the Bitmex crypto exchange soared an astonishing 2,668.58% in 24 hours, reaching $100.57 million.
Meanwhile, Bitwise’s XRP ETF set a new record for trading volume in the US, reporting $25.7 million in trades and $107.6 million in inflows.
Bitwise CEO Hunter Horsley stated, "Bitwise XRP ETF ($XRP) is now the highest-volume XRP ETF in the US."
04 SHIB Exchange Outflows
By contrast, Shiba Inu presents a different picture. According to a post on Gate Plaza, about 130 billion SHIB tokens have flowed out of exchanges into private wallets.
Such large-scale outflows usually indicate a holding pattern, suggesting investors are accumulating tokens rather than actively trading them.
However, when viewed alongside SHIB’s price trends, this move appears more defensive than a sign of aggressive accumulation.
05 Volatile Burn Rate
SHIB’s token burn mechanism has long been a focus for its community, but recent data highlights its instability.
On November 22, SHIB’s burn rate suddenly spiked, with 2.48 million SHIB destroyed in a single day.
Just days earlier, on November 21, almost no SHIB tokens were burned.
Even burning millions of tokens in a day has a negligible impact given SHIB’s massive total supply of 589 trillion.
06 Divergent Price Trends
As of November 24, XRP was trading at $2.09, up 2.87% over the past 24 hours, though the asset is still down nearly 10% over the past week.
XRP’s market structure remains challenged, with its current price below both the 50-day and 200-day simple moving averages.
In contrast, the SHIB price is holding near $0.00001238, having recently rebounded 1.5%.
Despite recent market declines, SHIB has shown some resilience, with 24-hour trading volume surging 14.61% to $24.8 billion.
07 Market Outlook Analysis
For XRP, analysts are closely watching the $2.30 support level.
Renowned analyst Ali Martinez cautions that if the $2.30 support fails, XRP may retest the $1.90–$2.00 range.
As for SHIB, despite recent challenges, there are some positive developments. Japan recently approved a unified 20% tax rate for SHIB, putting it on par with Bitcoin and Ethereum.
Coinbase also announced it will launch new perpetual futures for SHIB and ten other altcoins on December 5, giving retail traders access to these high-demand derivatives in a regulated environment.
Outlook
The crypto market remains highly sensitive, with macro factors also playing a role. Traders are closely monitoring the Federal Reserve, and expectations for a rate cut in December have now surged to around 70%.
This cycle of capital rotation is far from over. With XRP’s ETF narrative and SHIB’s strong community, which will win the next wave of market attention? The answer may lie in the next day’s on-chain data.
