February 5 News, XRP experienced a sharp sell-off on Thursday, dropping about 10% within 24 hours. The latest price approached $1.43, hitting a new low since November 2024. As the key support at $1.60 was broken, concerns about further declines to $1.40 or even $1.20 intensified. Over the past week, XRP has fallen approximately 20%, with nearly a 40% decline over the past month, while trading volume increased to $5.04 billion, indicating that panic selling is accelerating.
From a macro perspective, the entire crypto asset sector is undergoing a deep correction. Daily liquidation amounts reached about $770 million, mostly from long positions. The Fear and Greed Index dropped to 11, reflecting extreme caution in market sentiment. Meanwhile, the global crypto market cap fell back to $2.42 trillion, as external economic uncertainties prompted funds to shift into defensive assets.
The derivatives market is also under pressure. Open interest in XRP-related contracts declined to multi-month lows, with speculative demand noticeably cooling. Bitcoin and Ethereum also weakened simultaneously, further undermining overall confidence in mainstream coins. In the US, the Federal Reserve maintained interest rates, and news of Trump nominating Kevin Warsh to replace Powell further transmitted tension from traditional markets to the digital asset space.
Technical indicators also do not signal a clear reversal to strength. The MACD remains below the zero line, and the RSI has fallen to 22, indicating that while a short-term rebound is possible, the overall trend remains weak. The current $1.40 is a critical support level; if broken, $1.20 could become the next target zone. On the upside, XRP needs to regain above $1.60 to ease the bearish pressure.
In the context of multiple negative factors, XRP’s short-term recovery still faces tests. When the market stabilizes will still depend on overall sentiment and the pace of capital inflows.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
XRP Price: Below $1 or Spike to $2 Are Main Scenarios in Upcoming Volatility Surge - U.Today
Price squeezed
More challenges for sellers
Two opposing forces on the XRP chart, an ascending support trendline formed from the recent February lows, and a descending 26-day exponential moving average acting as resistance, are creating a compression structure, as the asset has been trading in an
UToday1h ago
XRP Price Outlook: Can it Break $3 by the End of 2026? Analysts Provide Bullish and Bearish Predictions
XRP is currently priced between $1.41 and $1.46, up about 4% in the past 24 hours but still below its all-time high. Analysts predict that if the market stabilizes, XRP could rebound to $3, while it might drop to $0.65 otherwise. Regulatory factors and the expansion of real-world applications will also influence its long-term trend. Investors should pay attention to market risks.
GateNews4h ago
XRP ETF attracts over $19 million, with AUM approaching $1.1 billion. Why does the price still hover around $1.40?
Despite XRP price pressure, investors remain interested in XRP ETFs, with approximately $19 million flowing in over the past week and total assets nearing $1.1 billion. However, XRP trading prices are still more than 60% below their all-time highs, and market sentiment remains cautious. Analysts point out that the influence of XRP ETFs is far less than that of Bitcoin ETFs. Overall, XRP's future performance is closely tied to market sentiment and Ripple's technological applications.
GateNews5h ago
