XRP’s early-year rally encountered a significant technical barrier Jan. 8 as the token retreated below the $2.10 support level. This volatility coincided with the first recorded net outflows from XRP spot exchange-traded funds (ETFs)—totaling approximately $41 million—since their late 2025 debut.

Read more: Bitcoin ETFs Shed $486 Million as XRP Sees First-Ever Outflows

According to Bitstamp data, the asset established an intraday floor at $2.06 at 9:45 a.m. EST before staging a modest recovery to reclaim the $2.10 handle, signaling a sharp deceleration of the bullish sentiment that defined the first six days of 2026.

This correction follows a massive surge just two days prior when XRP peaked at approximately $2.41, its highest valuation since mid-November 2025. At that peak, XRP’s market capitalization swelled to $144 billion, serving as a primary catalyst that propelled the total crypto economy beyond the $3.3 trillion milestone.

However, this momentum proved fleeting. The asset has since succumbed to a broader market correction, erasing the majority of its year-to-date gains. With this latest price action, XRP came within touching distance of its psychological support at $2, a scenario that appeared highly improbable during the highs of Jan. 6. This sharp reversal from the $2.41 peak has effectively shifted short-term momentum from a bullish to a corrective or bearish phase.

Relative Strength Index ( RSI): The 14-day RSI plummeted to 28.43 on Jan. 8. While this places the asset firmly in oversold territory—often a precursor to a relief bounce—it confirms that bearish pressure currently dominates the market.

Moving Average Convergence Divergence ( MACD): The MACD has issued a sell signal with a value of -0.038. On shorter timeframes, the MACD has lost its bullish divergence and crossed into negative territory, indicating a strengthening downward trend.

Moving Averages: Data shows XRP has slipped below its 200-period moving average on several intraday charts, a move frequently interpreted by traders as a sign of structural weakness. Additionally, the 14-day simple moving average (SMA) is now acting as dynamic overhead resistance, with price action trending significantly below recent averages.

Bottom Line: The overall technical outlook is currently bearish to neutral. While the broader structural uptrend of 2026 remains technically intact, the combination of unprecedented ETF outflows and the breach of the 200-period exponential moving average (EMA) has effectively neutralized the “new year rally” euphoria.

• What triggered XRP’s drop below $2.10? ETF outflows and technical weakness pushed the token under key support.
• How large were the ETF outflows? XRP spot ETFs saw about $41M in net withdrawals on Jan. 8.
• Where did XRP find intraday support? Bitstamp data shows a floor at $2.06 before rebounding to $2.10.
• Why does this matter for global markets? The reversal erased early‑year gains and cooled momentum after XRP’s $144B market cap surge.

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