XRP tumbled to a fresh multi-month low Feb. 2 as the cryptocurrency market grappled with a sell-off initially triggered by geopolitical tensions in the Middle East. Market data shows XRP briefly plunged to $1.52, its lowest valuation since early December 2024. The asset has since recovered a portion of those losses, trading near $1.60 as of 5 a.m. EST.

While XRP’s 24-hour decline sits at approximately 3%, recent volatility has pushed its weekly losses to 14.5%, dragging its market capitalization below $97 billion. This double-digit weekly slide aligns with the performance of other high-cap altcoins, many of which saw corrections between 10% and 20%. According to Coingecko data, the broader market rout briefly pushed the total altcoin market capitalization below the $1 trillion threshold.

Although XRP’s price action on Monday mirrored the systemic weakness across the broader crypto landscape, its persistent downtrend throughout January has significantly soured the technical outlook. The year opened with a definitive show of strength; XRP ignited a rapid ascent from $2 to $2.40 within a mere 96-hour window. This vertical move initially convinced market participants that the asset was primed to retest its historic all-time high of $3.65 established in July 2025.

Read more: XRP Breakdown Deepens While Market Confidence Slips

However, that bullish narrative was abruptly dismantled. What began as a controlled correction transitioned into an accelerated capitulation as January drew to a close. Since the local peak Jan. 6, XRP has shed more than 30% of its market value, a decline that has effectively neutralized previous support levels and stifled immediate expectations of a return to mid-2025’s record valuations.

As of Feb. 2, 2026, XRP’s technical indicators are flashing a “strong sell” on daily timeframes, reflecting a market searching for a bottom after a brutal January. The digital asset is currently trading in a “death stack” configuration, where the price sits below all major exponential moving averages (EMAs).

While the 50-day EMA (approximately $2.01) and 200-day EMA (approximately $2.28) are both trending downward, analysts are watching the 33-month EMA at $1.60. Experts suggest a monthly close below this level would confirm a macro bearish trend, potentially ending the bullish cycle that began in early 2025.

The relative strength index ( RSI) is hovering near 40, indicating building bearish momentum while suggesting the asset is not yet oversold. This implies there may be room for further downside before a natural bounce occurs. Despite the price drop, however, some analysts point to a hidden bullish divergence on the two-day chart. While the price has made a lower low ($1.52), the RSI is attempting to form a higher low—a pattern that often signals seller exhaustion and can be a precursor to a trend reversal, provided the $1.50 support holds.

• Why did XRP fall to $1.52? Geopolitical tensions in the Middle East triggered a broad crypto sell‑off.
• How much has XRP lost recently? It is down 14.5% weekly and over 30% since Jan. 6.
• What is XRP’s current technical outlook? Indicators show a “strong sell” with price below key EMAs.
• Could XRP rebound soon? Analysts see a possible trend reversal if $1.50 support holds.

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