XRP plunges 6% as bitcoin drops under support, worsening downtrend

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XRP plunges 6% as bitcoin drops under support, worsening downtrend

XRP fell alongside a broad risk-off move in crypto that pressured majors and high-beta tokens alike.

By Shaurya Malwa, CD Analytics

Feb 3, 2026, 7:24 p.m.

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What to know:

• XRP slid about 6.3 percent to roughly $1.54 in a broad crypto sell-off, with no token-specific catalyst behind the move.
• The break below the key $1.60 support level triggered heavy, likely forced selling, and rebound attempts have so far failed to reclaim $1.56.
• Traders say XRP must hold around $1.50 and then retake $1.60–$1.62 to ease downside pressure, with a break lower opening room toward about $1.38 and potentially $1.02.

XRP sold off sharply as broader crypto weakness pushed price through a key floor, with heavy volume suggesting forced selling rather than a slow drift lower.

News Background

• XRP fell alongside a broad risk-off move in crypto that pressured majors and high-beta tokens alike.
• There was no XRP-specific catalyst driving the drop; instead, the move looked positioning-led, with sellers accelerating once technical support gave way.
• The decline follows a choppy period where rebounds struggled to attract follow-through, leaving XRP vulnerable when market-wide sentiment turned.

Price Action Summary

• XRP fell about 6.3%, sliding from $1.65 to $1.54
• The break below $1.60 accelerated selling
• Volume surged at the breakdown, consistent with forced activity
• Price held near $1.54 into the close after a late-session flush

Technical Analysis

XRP broke decisively below $1.60, triggering a high-volume selloff that pushed price toward $1.54. The bounce attempts that followed failed to reclaim $1.56, keeping near-term structure bearish.

STORY CONTINUES BELOW

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Former support around $1.60–$1.62 now flips into resistance, with sellers defending rallies. The market is now trading around a key decision area: if $1.50 doesn’t hold, the next downside zones traders reference sit near $1.38, with a deeper risk level around $1.02.

Key levels:

• Support: $1.54, then $1.50
• Resistance: $1.56 first, then $1.60–$1.62

What traders say is next?

• Traders see this as a breakdown-first tape: any rebound is suspect until XRP can reclaim $1.60–$1.62 with volume.
• If $1.50 holds, XRP may stabilize and build a base — but bulls need to get back above $1.56 quickly to reduce downside pressure.
• If $1.50 breaks, traders expect momentum to extend toward $1.38, with risk of a deeper move if broader market weakness persists.