NEW YORK, Jan 30, 2026, 17:04 (EST) — Trading extended into after-hours
- XRP has dropped roughly 4% over the past 24 hours, adding to its losses for the week
- Markets shift attention back to Fed leadership and liquidity concerns as tech sector jitters spark risk-off sentiment
- Next on deck: confirmation headlines and the U.S. jobs report for Feb. 6
XRP slipped 4.2% in the past 24 hours to hover around $1.73 on Friday, marking a nearly 10% drop from last week, according to CoinGecko. The token’s range over the day was tight, between $1.72 and $1.81, with about $5 billion in trading volume, per CoinGecko data. 1
The sell-off unfolds as traders adjust to a U.S. rates narrative now permeating nearly every market. President Donald Trump tapped former Fed governor Kevin Warsh to head the Federal Reserve, adding that pressing him on rate cuts during confirmation would be “inappropriate.” At the same time, Republican Senator Thom Tillis warned he might block Fed appointments amid a separate dispute, upping the odds of a drawn-out confirmation fight. 2
Selling in crypto ramped up as investors reacted to the Fed’s policy shift and a fresh stumble in big tech stocks. Bitcoin dropped 2.5% to $82,300, with ether down 2.9% at $2,735, Reuters reported. Microsoft’s shares fell 10% on heavy AI-related spending and a more cautious mood. Damien Boey from Wilson Asset Management in Sydney warned that talk of shrinking the Fed’s balance sheet might “pull the rug out” from traditional hedges like gold and crypto. Sean Dawson of Derive.xyz added that “fears around AI exuberance” also fueled the sell-off. 3
XRP made legal news this week as well. On Jan. 27, a memorandum revealed the U.S. Court of Appeals for the Ninth Circuit upheld the dismissal of a proposed investor class action against Ripple Labs. The court ruled the federal registration claim was blocked by the Securities Act of 1933’s three-year statute of repose—a strict deadline that typically can’t be extended.
The class action stands apart from the SEC’s lawsuit targeting Ripple over XRP sales. In August, the U.S. Securities and Exchange Commission announced it was dropping its appeals after reaching an agreement with Ripple, keeping a $125 million fine in place, Reuters reported. 4
The company is shifting focus to practical applications again. GTreasury rolled out “Ripple Treasury,” promoting a unified platform for both traditional cash and digital assets. The goal: slash cross-border settlement times to seconds and lower the need for overseas pre-funding. 5
Flows in mainstream crypto products have bucked the market trend. On Jan. 29, U.S. spot bitcoin exchange-traded funds—stock-market funds that actually hold bitcoin—registered $817.8 million in net outflows, per Farside Investors. BlackRock’s IBIT saw $317.8 million head for the exits, while Fidelity’s FBTC shed $168.0 million. 6
XRP faces a unique challenge: it can snag headlines but still moves like a high-beta stand-in for the broader crypto market.
The Fed story can turn on a dime. Should Warsh’s confirmation shed more light on rates and liquidity — or hit a snag that shifts market expectations — Friday’s move might ease, forcing shorts to cover.
Conversely, a further drop in tech or fresh ETF redemptions could weigh heavily on the sector. XRP, in particular, tends to falter when bitcoin’s momentum shifts downward.
Traders are turning their attention to upcoming U.S. data, beginning with the January jobs report on Feb. 6, followed by inflation numbers set for Feb. 11, according to the Bureau of Labor Statistics schedule. 7
