After nearly a week of continuous price declines, Ripple’s cross-border token, XRP, has made a notable recovery, increasing by 4% to just above $1.60.

Analysts quickly shared their thoughts on the short-term price trajectory of the asset. Ali Martinez pointed out crucial support levels to watch, suggesting that the current rebound might just be temporary.

3 support levels for $XRP:
• $1.42
• $1.27
• $1.06
— Ali Charts (@alicharts) February 2, 2026

In a more optimistic note, the analyst CryptoWZRD mentioned that XRP has closed bullish against the dollar, but its future movements will depend on Bitcoin’s market dominance. The ongoing dominance of BTC has generally shown stability amid market fluctuations.

CryptoWZRD added, “If Bitcoin’s dominance declines, it could provide XRP with the positive momentum needed, aiming towards the $2.00 resistance soon.” The immediate goal for XRP is to reclaim the resistance at $1.64.

ChartNerd reiterated that exceeding $1.64 alone would not necessarily revive XRP’s upward trend without reclaiming the 100 WEMA at $1.87, which is crucial to prevent a potential drastic drop akin to previous low cycles.

$XRP MUST reclaim its 100 WEMA at $1.87 to prevent similar patterns leading to significant drops, mirroring the 2022 lows. This observation is not a prediction but worth monitoring. Bulls need to re-enter the market soon. Link to ChartNerd’s Tweet

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The recently launched spot XRP ETFs experienced their fourth consecutive day of outflows since their debut in November last year, with a total of approximately $400,000 exiting the funds. In stark contrast, January 29 marked a severely negative trading day for these ETFs, witnessing an exodus of $92.92 million. At that time, XRP’s price plummeted from $1.90 to $1.70 within just 24 hours.