- XRP dropped over 20% after breaking key support, with trading volumes surging sharply.
- XRP erased post-election gains but remains well above pre-election levels.
- Despite price declines, the XRP ecosystem and institutional initiatives continue to expand globally.
Bitcoin dropped to around $60,000, its lowest level since the U.S. election period, as heavy outflows from exchange-traded funds and broad market selling pushed cryptocurrency prices sharply lower.
Data shows U.S. spot Bitcoin ETFs recorded roughly $434 million in outflows, led by BlackRock’s IBIT fund, which alone saw about $175 million withdrawn. Spot Ethereum ETFs also lost roughly $80 million, adding to downward pressure across the digital-asset market.
The declines erased much of the rally that followed the election, with several major cryptocurrencies falling back to levels seen before the surge.
XRP Investors Hit by Sharp Volatility
The downturn also affected XRP, which dropped more than 20%, falling from about $1.60 to a low of $1.26 after breaking a major support level. Trading volume surged 187% to about $13 billion, indicating large-scale selling rather than gradual price drift.
Pro-XRP lawyer Bill Morgan said the recent market slide has effectively erased the broader crypto rally seen after the election, but noted XRP remains significantly higher than pre-election levels.
He added that while the sharp decline has disappointed investors, XRP is still “more than double” the price it traded at before the election, performing better than several altcoins that failed to rally strongly yet still suffered steep declines during the recent correction.
Institutional Positioning and Market Reset
Analysts say the latest fall shows a combination of institutional risk reduction, stop-loss liquidations, and broader macro uncertainty. XRP-focused investment products, which had attracted about $1.21 billion since November, have recently seen turbulence, including $93 million in outflows following another $53 million withdrawal earlier in the year.
They describe the current environment as a classic “flush-out” phase, where leveraged positions are forced out before markets attempt to stabilize.
Ecosystem Developments Continue Despite Price Pressure
Despite the price volatility, development activity around the Ripple ecosystem continues to give bullish hopes. The company has confirmed XRP Community Day 2026, scheduled for February 11–12, featuring executives including Brad Garlinghouse, Monica Long, and David Schwartz, along with industry participants discussing tokenized finance.
In addition, wrapped XRP (wXRP) is expected to expand onto the Solana network, a move aimed at enabling XRP-based liquidity across decentralized finance platforms and strengthening cross-chain interoperability.
The next direction for cryptocurrencies will likely depend on whether ETF flows stabilize and broader macro conditions improve in the coming weeks.
Related: Price Down, Activity Up: XRP Ledger Metrics Rise Despite Market Sell-Off
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Source: https://coinedition.com/xrp-still-double-pre-election-price-despite-sharp-market-drop/
