XRP dropped to $1.50 on Saturday, marking its lowest price point since November 2024. The token has since recovered to trade above $1.60.
The decline occurred during a broader cryptocurrency market selloff that affected all major digital assets. XRP faced selling pressure alongside the wider market downturn.
Technical analyst CryptoWZRD noted that while XRP closed bearish against the dollar, the XRP/BTC pairing showed a “dragonfly doji” candlestick pattern. This formation is typically viewed as a bullish indicator.
“During the Monthly transition, we should see more volatility led by Bitcoin,” CryptoWZRD wrote on February 1.
XRP Daily Technical Outlook:$XRP closed bearish while XRPBTC closed with a dragonfly doji which is a strong bullish candle. My focus will be on the lower time frame chart. During the Monthly transition, we should see more volatility led by Bitcoin
pic.twitter.com/RUtgdrjof9
— CRYPTOWZRD (@cryptoWZRD_) February 1, 2026
Analyst EGRAG CRYPTO suggested Saturday’s sharp decline could represent a liquidity grab that might trigger an immediate bounce. The analyst outlined a scenario where historical patterns could lead to a potential rally of up to 1,600% in coming months, similar to price action seen after a comparable structure in the 2017 cycle.
#XRP – 33 EMA Breakdown ≠ Game Over (UPDATE):
On the monthly chart, #XRP just tagged the Central Line + 33 EMA around $1.60–$1.61 ( The Dip was to $1.50)
— EGRAG CRYPTO (@egragcrypto) February 1, 2026
The US XRP-spot ETF market saw $52.26 million in net outflows for the week ending January 30. This followed the previous week’s $40.64 million in outflows, which had ended a 10-week inflow streak.
Grayscale’s XRP ETF (GXRP) accounted for $98.39 million in net outflows on January 29. GXRP has been responsible for two out of three total net outflow days for the US XRP-spot ETF market.
Despite weekly outflows, the US XRP-spot ETF market has recorded total net inflows of $1.18 billion since trading began in November 2025. In January, US XRP-spot ETFs saw net inflows of $15.59 million.
The US BTC-spot ETF market reported total net outflows of $4.3 billion since US XRP-spot ETFs launched. In January alone, the BTC-spot ETF market experienced net outflows of $1.61 billion.
The US Senate Agriculture Committee advanced its draft text of the Market Structure Bill this week. However, the advancement lacked bipartisan support as no Democratic Committee members voted to advance the markup.
The US Senate Banking Committee must now release an updated draft text and schedule a markup vote. In January, the Banking Committee postponed its markup vote after Coinbase withdrew support for the Market Structure Bill.
Coinbase CEO Brian Armstrong cited the draft text’s stance on stablecoin yields as a key reason for withdrawing support.
US banks oppose stablecoins offering yields while the crypto market pushes for rewards for stablecoin holders. The Banking Committee’s draft text faces hurdles in finding common ground between these positions.
The White House scheduled a meeting for February 2 between crypto firms and banking representatives. The session will include senior policy executives from Coinbase, crypto trade groups, and banking associations. Major bank CEOs and Coinbase CEO Armstrong will not attend.
Crypto journalist Eleanor Terrett stated the meeting is “intentionally not a C-suite meeting” and is meant to be a working session to facilitate dialogue on key issues.
Bank of America CEO Brian Moynihan previously warned that more than $6 trillion in deposits could move from the US banking system to stablecoins if crypto legislation permitted stablecoin rewards.
XRP closed Saturday’s trading session at $1.6454, down 3.98% for the day. The token held its close above $1.60, swept liquidity near $1.64, and opened February at $1.66.
The post XRP Price: Testing $1.50 Support as ETF Outflows Hit Two-Week Streak appeared first on CoinCentral.
