The cryptocurrency market is facing a sharp reality check this morning, with XRP bearing the brunt of a broader sell-off that has wiped billions from the total market cap. As of early Sunday, February 1, 2026, XRP has slid roughly 4% over the last 24 hours, struggling to hold the $1.58 mark.
This latest dip is part of a punishing week for the token, which has seen its value erode by more than 12% as traders pull back from riskier assets.
This downward pressure isn’t happening in a vacuum. The entire crypto sector is reeling from massive outflows in U.S. spot ETFs, with Bitcoin and Ether funds reportedly losing nearly $1 billion in just the last few days.
READ: XRP Price Drops to $1.54, Some Holders Turn to KT DeFi for Stable Returns
Bitcoin itself recently slipped below the psychologically critical $80,000 level, creating a ripple effect that has left major altcoins like XRP searching for a floor. For many retail investors, the drop below $1.60 is particularly concerning, as it breaks a support level that had held steady through much of late January.
Market analysts point to a mix of macroeconomic jitters and technical exhaustion as the primary culprits. After a volatile start to the year, XRP is currently trading well below its 50-day and 200-day moving averages, a signal that usually suggests a bearish trend is firmly in control.
However, it’s not all doom and gloom for the “XRP Army.” Some technical indicators, like the Relative Strength Index (RSI), have dipped into oversold territory. In plain English, this means the selling might be overstretched, often a precursor to a short-term “relief bounce” if the broader market stabilizes.
While the immediate price action looks grim, institutional activity behind the scenes remains busy. On-chain data recently flagged a massive $206 million XRP transfer between anonymous wallets, sparking rumors of “whale” accumulation despite the falling price.
Whether this is a sign of long-term confidence or just routine reshuffling remains to be seen. For now, the focus stays on whether XRP can reclaim the $1.70 range or if the slide will continue toward the next major support zone near $1.50.
Disclosure: Neither Tampa Free Press nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company. This article is not intended as financial advice. Educational purposes only.
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