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XRP Rockets 74% in Volume as Crypto Market Faces $2.58 Billion Crash

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$XRP has seen its trading volume jump over 74% as the broader crypto market fell significantly in early Sunday trading.

The crypto market extended its weekend slide, with losses broadening across most digital assets and futures liquidations piling up.

Over $2.58 billion in positions were liquidated over 24 hours, according to CoinGlass data, as a weekend sell-off extended in the crypto market, with 414,491 traders affected. $XRP saw more than $40 million in liquidation as its price fell.

Long positions accounted for the majority of liquidations, coming in at $2.27 billion, with shorts accounting for only $171 million. This imbalance points to traders being caught unawares, staying optimistic about a rebound after weeks of range-bound price action in the markets.

Thin weekend liquidity increased selling pressure as trading volumes declined, a setup that might boost volatility. $XRP trading volume likewise fell, but has recovered early Sunday.

$XRP's trading volume came in at $6.49 billion, a 74% increase in the last 24 hours, according to CoinMarketCap data.

$XRP price drops

$XRP fell for four straight days from Jan. 28 to hit a low of $1.5 on Jan. 31. The significance of this low is that it occurs near $XRP's realized price.

The $XRP Realized Price is trading at $1.48. The current market structure is very similar to that of April 2022.

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— glassnode (@glassnode) February 1, 2026

$XRP's realized price currently sits at $1.48, according to Glassnode, with the price hinting at a familiar setup seen in April 2022.

A little hope remains as $XRP still holds above its realized price as the market hints at an ongoing reset. The thin liquidity hanging over the market alongside risk appetite waning might suggest more of a reset.

According to Scott Melkel, $XRP is trading exactly at the last meaningful support on the chart before a huge air pocket, which makes this particular moment crucial to watch for $XRP's price.

Meanwhile, RSI indicators are now at oversold levels, below 30, hinting at the possibility of a relief rally in the coming sessions.