XRP Slips to $1.60 as $4B Trading Volume Surges — Is $1.55 the Next Stop?

XRP extended its recent decline on February 2, 2026, slipping to around $1.59–$1.61 amid intensified selling pressure across the cryptocurrency market. The token traded in this range during Asian and early U.S. sessions, down approximately 3–7% over the past 24 hours and reflecting 12–16% losses over the prior week (per data from Yahoo Finance, Investing.com, Kraken, and reports on BingX and CryptoNews).

Daily trading volume surged to roughly $4 billion (with some exchanges reporting figures near $4–5.5 billion, including Yahoo’s 5.47 billion XRP equivalent), indicating elevated trader participation and volatility. This high turnover, analysts noted, stemmed from uncertainty and positioning rather than strong bullish conviction, as both longs and shorts actively engaged around pivotal levels.

Technically, $1.60 emerged as a near-term support zone, with a break below potentially opening the path to $1.55—a prior consolidation area and deeper support highlighted in multiple analyses. Momentum indicators, such as RSI near oversold territory (around 30), pointed to bearish bias in the short term, though some observers suggested heavy volume could precede accumulation if buyers defend supports aggressively.

The move aligned with broader market weakness, driven by macro factors including U.S. liquidity tightening, elevated bond yields, Fed policy uncertainty under the Kevin Warsh nomination, and correlated declines in Bitcoin (near $76K) and Ethereum (near $2.2K–$2.3K). Altcoins like XRP faced amplified pressure in this risk-off environment.

Despite the downside, some traders viewed the volume spike as a potential sign of capitulation or base-building, especially with recent XRP ETF inflows (e.g., $16.79 million net on January 30). Long-term sentiment remains mixed, hinging on macro stabilization and Ripple ecosystem developments.

Market participants are monitoring whether XRP holds $1.60 or tests $1.55 next, with volatility likely to persist amid ongoing global economic signals.