XRP leads major coin losses in crash

TLDR

XRP (XRP) briefly became the biggest loser among large coins during the latest crypto crash, before partially rebounding with the wider market.

1. On 5 Feb, XRP dropped roughly 1520 percent in 24 hours, the worst performance among major tokens, while Bitcoin and Ethereum fell around 710 percent.
2. The outsized XRP move was driven by heavy derivatives liquidations and crowded long positioning, even as spot XRP ETFs still showed modest net inflows.
3. The broader crash reflected leveraged long wipeouts, ETF outflows and macro worries, so what happens next depends on Bitcoin support levels and whether extreme fear begins to ease.

Deep Dive

1. How Hard XRP Was Hit

Multiple reports note that on 5 Feb XRP fell about 1520 percent in a single day, making it the weakest performer among major coins such as Bitcoin, Ethereum, BNB, Solana and Dogecoin, with weekly losses near 30 percent and the lowest price since November 2024, while Bitcoin and Ethereum were down roughly 710 percent in the same window. One outlet explicitly writes that XRP led cryptocurrency losses Thursday.

Total crypto market capitalization fell about 7 percent over 24 hours to roughly 2.26 trillion dollars, according to aggregate market data, during what several sources describe as one of the worst broad selloffs in months.

As of the latest snapshot, XRP trades near 1.36 dollars with a 24 hour move of about minus 3.11 percent, while Bitcoin is down about 7.85 percent and Ethereum about 9.87 percent over the same latest 24 hour period, showing that XRP has bounced a bit harder than peers after leading the initial flush.

2. Why XRP Underperformed

Derivatives data shows roughly 4647 million dollars of XRP perpetual and futures positions were liquidated over 24 hours, with the overwhelming majority being leveraged long bets, which amplified the drop once key support near 1.44 dollars broke and turned into resistance, leaving 1.00 dollar as the next psychological level, according to CoinDesks summary of liquidations and technical levels.

At the same time, XRP specific fundamentals and regulatory wins, such as new e money licenses for Ripple, did not cushion the price, highlighting that short term pricing was dominated by positioning and momentum rather than news.

Spot XRP ETFs actually continued to show net inflows, with around 624 million dollars added this week and roughly 1.2 billion dollars accumulated since launch, according to XRP ETF flow data, suggesting some longer horizon buyers used the dip even as traders were forced out.

3. Crash Drivers And What To Watch

Across the market, more than 2.6 billion dollars of leveraged positions were liquidated in 24 hours, around 89 percent from longs, while Bitcoin ETFs saw roughly 1.2 billion dollars in net outflows over three days and Bitcoin itself fell from the low 70 thousands to the low 60 thousands, based on macro and liquidation data.

Macro tone also turned more hostile, with a US Treasury Secretary reiterating that the government will not bail out Bitcoin, contributing to risk aversion and additional ETF and futures selling pressure, as described in analysis of the Bessent comments and associated BTC and XRP moves.

Market wide sentiment is now in extreme fear, with a very low fear and greed index reading and high realized losses, while open interest is still sizeable, which means more volatility is possible if Bitcoin loses support in the low 60 thousands or if XRP cleanly breaks the 1.20 to 1.00 dollar zone.

Conclusion

XRP did lead losses among major coins during the sharp 5 Feb crypto crash, mainly because of leveraged long liquidations and a break of key support, rather than a specific negative XRP headline. Since then it has bounced somewhat more than Bitcoin but remains heavily drawn down on the week, in a market that is driven by forced selling, ETF flows and macro uncertainty. The next phase for XRP is likely to depend on whether Bitcoin stabilizes, leverage is reduced and ETF inflows stay positive, rather than on any single project update.