XRP Drops to $1.60 on $4B Volume — $1.55 Support in Focus
XRP traded around $1.59–$1.61 on February 2, 2026, falling 3–4% in 24 hours and 12–16% over the past week — its lowest level in nearly nine months and about 19% below January highs. One-day volume remained heavy at roughly $4 billion, indicating active trading despite the pullback. XRP’s recent weakness largely mirrors Bitcoin correlations (about 87% directional correlation), alongside macroeconomic concerns tied to potential prolonged high US interest rates after Federal Reserve leadership changes. Despite the sell-off, XRP ETFs recorded net inflows of $16.79 million on January 30, led by 21Shares (TOXR, $8.19M), Bitwise ($3.91M), Canary ($2.79M) and Franklin (XRPZ, $1.90M), suggesting institutional buying interest. Technicals are short-term bearish: resistance sits near $1.65–$1.68, critical support at $1.55, and an RSI approaching 30 signalling easing selling pressure but no confirmed reversal. A breach below $1.55 could target $1.48; a clear move above $1.68 would be the first sign of renewed momentum toward $1.75–$1.82. Key takeaways for traders: high volume confirms participation during the dip, ETF inflows indicate buyers stepping in, watch $1.55 support for short-term risk management and $1.68 for momentum confirmation.
Bearish
The overall signal is bearish in the short term. XRP is in a short-term downtrend, trading near nine-month lows with weekly losses of 12–16%, and faces immediate resistance at $1.65–$1.68 while sitting on critical support at $1.55. High one-day volume (~$4B) confirms active selling and turnover, though ETF net inflows suggest pockets of institutional buying that may cushion declines. The strong correlation with Bitcoin (≈87%) and macroeconomic risks (possible prolonged higher rates) increase downside vulnerability if broader markets weaken. Historical parallels: past crypto pullbacks tied to BTC corrections often pushed altcoins to test nearby support levels before consolidation or capitulation. Short-term traders should treat $1.55 as a key risk-management level — a break would likely accelerate selling toward $1.48 or lower; a reclaim and hold above $1.68 would shift the bias toward neutral-to-bullish and open a recovery to $1.75–$1.82. For longer-term holders, ETF inflows are a constructive sign of institutional interest but do not yet negate the current bearish momentum. Monitor BTC direction, macro headlines on Fed policy, and ETF flows for signs of stabilization.