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XRP plunged to $1.84 on January 19, 2026, sparking nearly $40 million in liquidations amid growing fears around Greenland-related tariffs and concerns over the Federal Reserve’s independence.

Technical indicators show XRP has declined in 13 of the past 14 trading sessions, remaining well below the 200-day EMA at $2.56, with downside targets between $1.61 and $1.25.
Although a bullish pin bar is forming near the $1.90 support zone, the broader downtrend remains intact. A meaningful reversal would require XRP to reclaim $2.40 and the 200 EMA simultaneously.
Why Is the XRP Price Dropping Today? Latest XRP/USDT Technical Overview
XRP has now posted its sixth straight losing session, tumbling to $1.8470 during Monday’s flash crash, marking its lowest level since early January. The sharp decline triggered the largest long liquidation since November 2025. Overall, XRP has fallen in 13 of the last 14 sessions, shedding nearly 16% from last Wednesday’s local high of $2.357.
At the time of writing, XRP is trading around $1.97, down 3.22% from yesterday’s $2.062, after rebounding from the $1.84 intraday low.
From a technical perspective, the bounce from $1.84 to $1.97 has formed a potential bullish pin bar. However, the broader market structure remains decisively bearish, with downside targets pointing toward $1.61 (April 2025 lows) and eventually $1.25 (2024 bottom).
Let’s break down the key reasons behind XRP’s decline today and assess how much further the Ripple-backed token could fall.
Why Is XRP Going Down? Geopolitical Turmoil Sparks $873M in Crypto Liquidations
The sell-off resulted in approximately $40.36 million in XRP liquidations within 12 hours, with $39.14 million coming from long positions, accounting for 96% of total XRP liquidations. This occurred amid a broader crypto market meltdown that wiped out $873.31 million in total positions, including $787.75 million from longs, as geopolitical uncertainty and tariff concerns triggered a widespread risk-off move.
“Crypto markets are facing intense downside pressure at the start of the week, driven by a broader deterioration in global risk sentiment,” said Joel Kruger, crypto strategist at LMAX. “The sell-off is largely being fueled by escalating geopolitical and trade tensions.”
Despite the bearish price action, LMAX recently announced a $150 million partnership with Ripple to integrate the RLUSD stablecoin as collateral across spot crypto trading, perpetual futures, and CFDs within institutional infrastructure. The move underscores the growing convergence between traditional finance and crypto derivatives, even as XRP itself undergoes a sharp technical breakdown.
Meanwhile, former U.S. President Donald Trump’s proposed tariffs on eight European countries related to Greenland have intensified trade war fears. Reports suggest the EU is preparing counter-tariffs on up to €93 billion worth of U.S. goods.
“A new front has opened across the Atlantic as Europe braces for a potential trade war,” said Samer Hasn, Senior Market Analyst at XS.com. He added that the EU is considering deploying its never-before-used anti-coercion tool, which could lead to retaliatory tariffs on $100 billion worth of American exports.
24-Hour Liquidation Snapshot

TimeframeTotal LiquidationsLong LiquidationsShort Liquidations24
Hours$873.31M$787.75M (90.2%)$85.56M (9.8%)
12 Hours$811.69M$768.14M (94.6%)$43.55M (5.4%)
XRP (12h)$40.36M$39.14M (96.0%)$1.22M (4.0%)

Data from Coinglass confirms that XRP saw $29.7 million in long liquidations on Monday, the highest since November 4, 2025, when $36.25 million was wiped out. During the same period, Bitcoin dropped 3.79% in just one hour, falling from $95,500 to $91,900, before staging a modest recovery to $92,800.
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