XRP Price Drops 15% to Test Key $1.53 Support Level

Edgen Crypto

·Feb 03 2026, 13:45

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Key Takeaways

XRP's price fell nearly 15% over the past week, bringing it to a critical technical support zone around $1.53. This decline occurred as the broader cryptocurrency market faced a downturn. Despite the drop, some technical analysts see the potential for a short-term price recovery if the support level holds.

Price Correction: XRP's value decreased by almost 15% over one week, hitting the $1.53 price point.
Technical Support: The token is currently testing a key Fibonacci retracement level known as the “golden pocket,” a crucial area for technical traders.
Potential Rebound: Veteran traders suggest that if this support level holds, XRP could see a short-term recovery toward the $2 mark.

XRP Falls 15% to $1.53 as Market Declines

The price of XRP experienced a significant downturn, falling nearly 15% over the past week to test the $1.53 zone on February 3, 2026. This price action comes as the wider cryptocurrency market undergoes a period of decline, placing downward pressure on major altcoins. The drop has pushed XRP to a critical technical juncture, where its next move could set the tone for the coming weeks.

Traders Watch for $2 Rebound from Support

Despite the bearish weekly performance, some traders are identifying potential signs of a short-term recovery. Veteran analyst CasiTrades noted that XRP is testing a key support area known as the "golden pocket," a Fibonacci retracement level closely watched for potential trend reversals. A successful defense of this $1.53 support could provide the foundation for a relief rally, with traders eyeing a potential recovery toward the $2 price level. Failure to hold this zone could, however, trigger further liquidations and a steeper price decline.