XRP Crash Today: Can It Hold $1 or Plunge Deeper?

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XRP‘s price sighs as the day wears thin, and the market weather turns sharp, like frost on a window where poets dream of warmth. Bitcoin faltered near sixty thousand, and with that the room grew quieter, the bells of risk reduction tolling softly. In the latest flurry, more than $1.85 billion of long positions vanished, leaving a cautious glow over the arena of large-cap alts, including XRP.

No single spark struck XRP this time; the whole market wore the same melancholy cloak. Traders retreated as volatility kept its teeth bared and dip-buying shuffled its feet. Leverage uncoiled, confidence trembled, and short-term bounces in XRP learned to bow at the door. For now, price action sticks to the broader market’s rhythm, as everyone waits for selling to sigh itself to exhaustion before stepping into any meaningful revival.

Current XRP Price Position Today

XRP’s decline deepened over the last 24 hours, sliding about 9.77% to hover near $1.30. The sell-off intensified after the $1.50 floor proved brittle, setting off a sharp retreat in the prior trading session.

The downward drift dragged XRP as low as $1.13, a threshold unseen even in the October 2025 maelstrom, underscoring the gravity of the breakdown. As the price slipped below $1.50, trading volume stirred from slumber, rising after a quiet spell near $4 billion since the month began.

Volume spiked as XRP marked its lows, surging past $10 billion and later climbing above $13 billion as the price grudgingly rebounded. This surge of activity hints at bullish attention near the troughs, with buyers stepping forward to defend the range. The rebound nudged XRP back toward $1.30, where it now strives to settle.

Yet the ascent remains restrained. Heavy overhead resistance continues to cap recovery attempts, keeping bearish risks in sight despite the bounce from recent lows.

XRP Price Analysis for this Week-Can XRP Still Plunge Below $1?

XRP endured a similar retreat in October 2025, when long liquidations crossed $612 million. The current pullback, while not identical, appears technically deeper, even though long liquidations so far stay below $60 million.

This imbalance speaks not of dramatic shocks but of a clean technical fracture and fading trader confidence. With liquidation pressure still relatively contained, sellers hold the reins, leaving XRP vulnerable to further downside. Unless buyers stamp their feet decisively, the token remains exposed to a move below the $1.00 level in the near term.

As the chart reveals, XRP has risen again from the $1.05-$1.15 zone, a region where buyers once stepped in during November 2023 and pressed the price toward a peak near $2.91. That memory underscores the stubborn importance of this demand area.

But the current rebound wears a different cloak. Despite visible buying interest, XRP struggles to move decisively higher and remains pinned near support. More tellingly, open interest continues to decline, suggesting the move lacks robust bullish backing.

The rebound seems driven largely by short liquidations, not fresh long positions entering the market. As contracts close even as price ticks upward, it signals ongoing deleveraging and a paucity of trader conviction. For now, $1.05 stands as a critical line of defense. A clean break below this level could usher in a deeper correction.

Conclusion

XRP’s recent rebound offers a brief breath of relief, but the undercurrent remains a mixture of questions and whispers. While buyers have defended the $1.05-$1.15 zone, the lack of sustained follow-through and falling open interest suggest the recovery is driven more by short covering than by genuine demand. Until fresh long positions appear and momentum returns, the bounce risks fading, like a memory that refuses to become a story. For now, XRP sits at a crossroads: hold the line and perhaps steady the price, or slip and invite a renewed slide. And yes, the market’s mood still runs on espresso and stubborn gravity.

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2026-02-06 11:32