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The crypto market continued its sharp downturn on February 6, 2026, with XRP experiencing one of the steepest declines among major tokens. XRP plunged approximately 16-17% in the past 24 hours, dropping from levels around $1.50+ to lows near $1.11-$1.29 before partial recovery attempts toward $1.30-$1.37 in some reports. This marked its worst single-day performance in months, amplifying broader sell-offs driven by Bitcoin’s retreat toward $60,000-$70,000 and widespread risk aversion.
The crash was significantly fueled by leveraged positions unwinding, with roughly $46 million in XRP derivatives liquidated over 24 hours—predominantly long bets (about $43 million), according to CoinGlass data cited across sources like CoinDesk and Yahoo Finance. This cascade of forced selling exacerbated the drop as traders’ margin calls triggered further downside pressure.
XRP’s steeper losses compared to Bitcoin (down ~7-12%) and Ethereum (similar or slightly less severe) highlight concentrated speculative activity in altcoins, including broken technical supports (e.g., falling channel breaches) and spillover from macro uncertainty, tech sector weakness, and shifting Fed expectations. While not isolated—total crypto liquidations exceeded $2 billion in recent sessions—XRP stood out as a top underperformer, with weekly losses nearing 30% and from January peaks erasing substantial gains.
Broader altcoins faced volatility, but XRP’s hit underscored leverage risks in a fear-dominated environment (Crypto Fear & Greed Index in extreme fear territory).
**What traders should know**
– **Leverage caution**: High margin amplifies losses; avoid overexposure during volatile periods.
– **Monitor triggers**: Watch on-chain flows, whale activity, regulatory updates, and macro news.
– **Perspective**: Short-term pain is common; long-term holders may see dips as accumulation zones if fundamentals (e.g., Ripple adoption) hold.
**Key takeaways**
– XRP dropped 16-17%, its steepest daily fall since late 2025.
– ~$46 million in leveraged longs liquidated in 24 hours.
– Broader market weakness amplified the move, with XRP hit hardest among majors.
– Extreme fear prevails; exercise caution and risk management.
As the dust settles, analysts advise staying vigilant amid potential continued swings, though some view current levels as oversold with rebound potential if support holds.
