XRP Drops to Multi-Month Low as Market Pressure Mounts
XRP fell sharply on February 2, sliding to $1.52 — its lowest price since December 2024 — amid a broad cryptocurrency market sell-off driven by a mix of geopolitical tensions and macroeconomic headwinds. The token later recovered some losses, trading near $1.60, but selling pressure remains elevated across the digital-asset space.
Erosion of the New Year Bullish Narrative
After kicking off 2026 with optimism, XRP’s year-start rally faltered as risk-off sentiment intensified. The market decline wasn’t isolated: major cryptocurrencies, including Bitcoin, also slipped as macro news increased volatility in risk assets.
Bitcoin weakness: Broader declines in Bitcoin pricing contributed to selling pressure among altcoins — XRP included.
Technical breakdown: Analysts point to bearish chart patterns with XRP trading below key moving averages, reflecting growing technical weakness.
Market Structure & Technical Outlook
XRP’s technical picture has deteriorated, with prices below major exponential moving averages (EMAs), signaling bearish momentum. Observers are now watching the critical $1.60 level, which, if decisively broken on a monthly basis, could reinforce a broader bearish trend.
Despite recent volatility, some traders see signs of potential support forming near longer-term floors. If key support levels hold, there may be room for stabilization or a rebound — though the market remains highly uncertain.
Fundamental News Keeps Ripple in Focus
While price action weakens, fundamental developments in Ripple’s business continue:
Regulatory wins: Ripple recently secured important licenses and expanded its regulatory footprint — developments that could support long-term adoption.
Market sentiment: Not all commentary is bearish; some industry voices highlight broader regulatory progress and structural demand from ETF inflows.
Looking Ahead
XRP’s current pullback highlights the token’s sensitivity to global markets and macro catalysts. Whether the recent low becomes a meaningful bottom will likely depend on short-term risk sentiment, broader crypto market strength, and how traders respond to technical support levels.
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