XRP extended its sharp selloff on February 5, sliding to $1.29 as bearish momentum accelerated across the broader crypto market, pushing the token into deeply oversold territory on multiple timeframes.
XRP Breaks Down After Failing to Hold Key Support
The XRP chart shows the price breaking decisively below the $1.50–$1.55 support zone, a level that had acted as a consolidation base through late January. Once that area failed, downside pressure intensified rapidly, triggering a near-vertical decline toward current levels around $1.29.
From a short-term perspective, XRP has now fallen 16% over the past 24 hours, confirming a momentum-driven selloff rather than a gradual correction. The speed of the move suggests forced selling rather than discretionary profit-taking.
Seven-Day Trend Confirms a Structural Pullback
Zooming out, the broader trend remains clearly negative. XRP is now down approximately 28% over the past seven days, erasing gains from its late-2025 rally and placing price back near levels last seen during earlier consolidation phases.
The chart structure shows a sequence of lower highs and lower lows, reinforcing that the market has shifted firmly into a short-term downtrend. Attempts at relief bounces throughout January failed to regain previous resistance levels, leaving price vulnerable once selling pressure returned.
Technical Indicators Signal Extreme Stress
Supporting the price action, the market metrics panel highlights a deeply stressed setup:
- 14-day RSI at 26.88, firmly in oversold territory
- Volatility elevated near 9.7%, reflecting disorderly price action
- Price far below both the 50-day SMA ($1.94) and 200-day SMA ($2.44)
- Fear & Greed Index at 12, signaling extreme fear conditions
Despite oversold readings, the chart shows no confirmed reversal structure yet, suggesting downside risk remains active until price stabilizes.
Sentiment Remains Bearish as Liquidity Thins
Overall sentiment remains decisively bearish, with XRP failing to attract sustained dip-buying interest during the decline. The absence of meaningful bounce volume near $1.30 indicates that market participants are prioritizing capital preservation rather than positioning early for a recovery.
Unless XRP can reclaim lost support levels and form a base above recent lows, the current price action reflects a market still searching for equilibrium amid broader crypto-wide risk aversion.
