The cryptocurrency market saw a sharp downturn on Feb. 5, 2026, with major assets tumbling and traders feeling renewed pressure amid broad risk-off sentiment. XRP emerged as the worst-performing asset among the top 100 tokens, dropping about 15 % in a single day — marking its largest decline and leading losses across major coins.
XRP was trading near $1.30 after the steep slide and has lost around 28 % over the past week, hitting its lowest levels since late 2024, according to price aggregator data. Losses in XRP derivatives also triggered heavy liquidations, with more than $47 million in XRP positions forcibly closed as traders using leverage were squeezed.
Other large cryptocurrencies also moved lower as the sell-off broadened:
Ethereum (ETH) fell roughly 6 % on the day and has extended a week-long drop of around 30 %, dipping below key psychological levels near $2,000.
Dogecoin (DOGE) lost about 8 % during the same period, trading near $0.09 after shedding nearly 19 % on the week.
Bitcoin (BTC) also slid, dipping below $67,000 before trading slightly above $68,000 as investors de-risked across markets.
The sell-off contributed to over $1.4 billion in total crypto liquidations during the same 24-hour span as markets swung into heightened “Extreme Fear” territory on sentiment indicators — a sign that traders have become broadly pessimistic.
Market observers point to ongoing macro headwinds, weak risk assets, and renewed caution among leveraged traders as key drivers of the downturn, with losses in crypto echoing broader pressures felt in equities and other financial markets.
