XRP is under pressure as the crypto market faces a sharp sell-off, dropping roughly 4% in 24 hours to $1.58 as of February 1, 2026. The token has lost over 12% this week, weighed down by risk-off sentiment across the sector.
The sell-off is tied to massive outflows from U.S. spot ETFs, with Bitcoin and Ether funds losing nearly $1 billion in recent days. Bitcoin’s slip below $80,000 has amplified downward pressure, dragging major altcoins like XRP lower.
Technical indicators suggest bearish momentum, with XRP trading below its 50-day and 200-day moving averages. Yet some signs, like the Relative Strength Index (RSI) entering oversold territory, hint at a potential short-term relief bounce if market conditions stabilize.
Institutional activity continues behind the scenes. On-chain data shows a $206 million XRP transfer between anonymous wallets, fueling speculation of whale accumulation despite the price decline.
Analysts are watching key support levels: $1.70 as the immediate target to reclaim, with $1.50 as the next major floor. Short-term volatility is high, but long-term investors remain focused on technical setups and institutional movements.
