2026-2-3 14:56 |
XRP slid to near $1.5 amid a broad crypto selloff and $2.5 billion in liquidations, before a modest rebound. Heavy liquidations, weak volumes, and bearish indicators keep XRP’s near-term technical outlook fragile. Ripple secured an EU EMI license in Luxembourg, boosting its regulatory footing despite XRP volatility.
XRP slid sharply over the weekend as a broad risk-off move swept through cryptocurrency markets, triggering heavy liquidations and pushing the token to its lowest level since December 2025.
The selloff came alongside steep declines in Bitcoin, Ethereum and even traditional safe havens such as gold and silver, underscoring the depth of the market rout.
The turbulence unfolded even as Ripple, the payments firm closely associated with XRP, secured a key regulatory milestone in Europe after receiving final approval for an Electronic Money Institution license in Luxembourg, strengthening its ability to scale regulated payment services across the European Union.
XRP slides to multi-month lows amid broad market selloffXRP is attempting to stabilise after a sharp weekend selloff that dragged its price down to around $1.5, as bearish pressure swept through cryptocurrency markets.
After failing to sustain gains near $1.8, the token fell to its lowest level since December 2025.
The decline came amid a broader market rout that saw Bitcoin slide below $75,000, and Ethereum drop toward $2,100, pulling most major altcoins lower.
The risk-off move extended beyond crypto.
Gold, which had recently climbed above $5,500 an ounce, fell to about $4,620, marking its steepest single-day decline in more than a decade, while silver also posted heavy losses.
Over $2.5 billion liquidatedSelling pressure intensified as the US entered a partial government shutdown, while markets showed little reaction to President Donald Trump’s nomination of Kevin Warsh as the next Federal Reserve chair.
Warsh is widely viewed as supportive of digital assets.
In crypto markets, more than $2.5 billion in leveraged positions were liquidated on Jan. 31.
According to Coinglass, this ranked as the 10th-largest liquidation event on record, though well below the $19 billion wipeout seen during the October 10, 2025 crash.
On-chain data showed that more than $10 million in XRP positions were liquidated in the past 24 hours, with about $7.4 million of those in long positions.
CoinGlass data indicated that more than 4,300 traders were affected, while daily volatility in XRP exceeded 7.5%.
Some market participants blamed Binance for exacerbating the selloff, though the exchange and its former chief executive Changpeng Zhao rejected those claims.
Technical outlook remains fragile despite modest reboundXRP’s market capitalisation has fallen to roughly $97 billion, reflecting a sharp contraction as investors moved away from risk assets.
Daily trading volume declined 16% to around $5.4 billion, signalling weakening liquidity and limited buying interest.
From a technical perspective, the daily chart remains broadly bearish.
While the relative strength index suggests a potential rebound from oversold levels, weak momentum could limit upside.
The MACD continues to indicate strengthening bearish conditions, with the histogram widening.
As of Monday, February 2, XRP was trading near $1.6, recovering modestly from its weekend lows.
A sustained break below $1.5 could open the way toward the $1.24 support area.
On the upside, a move back above $1.8 may help stabilise sentiment and allow for a potential retest of the $2.00 to $2.30 range.
Ripple secures EU EMI license in LuxembourgRipple has received final approval from Luxembourg’s financial regulator for a full Electronic Money Institution license, converting a preliminary authorization granted in January.
The license, issued by the Commission de Surveillance du Secteur Financier, enables Ripple to scale its blockchain-based payments and digital asset services across the European Union under a regulated framework.
The approval builds on Ripple’s recent regulatory gains in the UK, where the Financial Conduct Authority granted the firm an EMI license and crypto asset registration, strengthening its European expansion strategy.
The post XRP slides to multi-month lows as liquidations surge amid market rout appeared first on CoinJournal.
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