The post Why XRP Price Is Falling Today—Can Bulls Defend $1 Support? appeared first on Coinpedia Fintech News

XRP price slipped lower today as selling pressure across the crypto market picked up pace. The move followed Bitcoin’s drop to around $60,000, which triggered another wave of risk reduction and forced liquidations. In the latest flush, more than $1.85 billion in long positions were wiped out, setting a cautious tone for large-cap altcoins, including XRP.

There was no XRP-specific trigger behind the decline. Instead, traders stepped back as volatility stayed high and dip buying remained weak. With leverage still unwinding and confidence shaken, short-term bounces in XRP have struggled to hold. For now, price action remains tied to broader market stability, with traders waiting for signs of exhaustion in selling before positioning for any meaningful recovery.

Current XRP Price Position Today

XRP extended its decline over the past 24 hours, dropping 9.77% to trade near $1.30. The sell-off intensified after the token failed to hold the $1.50 support, triggering a sharp pullback during the previous trading session.

The downside move dragged XRP as low as $1.13, a level not seen even during the October 2025 sell-off, highlighting the severity of the breakdown. As the price slipped below $1.50, trading volume began to rise after remaining relatively flat near $4 billion since the start of the month.

Volume spiked sharply as XRP marked its lows, surging past $10 billion and later climbing above $13 billion as the price rebounded. This increase in activity suggests bullish participation near the lows, with buyers stepping in to defend the range. The rebound has pushed XRP back toward $1.30, where it is now attempting to stabilize.

However, upside momentum remains capped. Strong overhead resistance continues to limit recovery attempts, keeping bearish risks firmly in play despite the bounce from recent lows.

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

XRP went through a similar sell-off in October 2025, when long liquidations crossed $612 million. The current pullback, however, appears technically deeper, even though long liquidations so far remain below $60 million.

This imbalance suggests the weakness is being driven less by forced exits or external shocks and more by a clean technical breakdown and fading trader confidence. With liquidation pressure still relatively contained, sellers continue to control price action, leaving XRP vulnerable to further downside. Unless buyers step in decisively, the token remains exposed to a move below the $1.00 level in the near term.

As seen on the chart, XRP has rebounded from the $1.05–$1.15 range, a zone where buyers previously stepped in during November 2023 and pushed the price toward a peak near $2.91. That historical reaction highlights the importance of this demand area.

However, the current rebound looks different. Despite visible buying interest, XRP has struggled to move decisively higher and remains pinned close to support. More importantly, open interest continues to decline, suggesting the move lacks strong bullish backing.

The rebound appears to be driven largely by short liquidations, rather than fresh long positions entering the market. As contracts continue to close even as price ticks higher, it signals ongoing deleveraging and a lack of conviction among traders. For now, $1.05 remains a critical line of defense. A clean break below this level could open the door to a deeper correction.

Conclusion

XRP’s recent rebound offers short-term relief, but the underlying signals remain mixed. While buyers have defended the $1.05–$1.15 zone, the lack of follow-through and falling open interest suggests the recovery is being driven more by short covering than genuine demand. Until fresh long positions enter the market and momentum improves, the bounce risks fading. For now, XRP remains at a critical juncture, where holding key support could stabilise price, but a breakdown would likely trigger renewed downside pressure.

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Filed under: Bitcoin - @ February 6, 2026 8:22 am