TL;DR

• Some analysts see XRP’s recent price plunge as a golden buying opportunity rather than a reason to panic.
• However, a massive 130 million XRP sell-off by whales raises questions about whether the correction is over or if more downside is ahead.

‘Don’t Let Fear Hold You Back’

As reported earlier today (February 3), the cryptocurrency market witnessed a substantial crash. Ripple (XRP), which was at the forefront of gains in the past few months, has joined the club of the biggest losers (on a 24-hour scale).

Its price briefly tanked below $2 for the first time this year before recovering to the current $2.40 (per CoinGecko’s data). This represents a whopping 15% daily decline.

However, it seems like some pro-XRP analysts remain unfazed by the latest pullback. The popular X user EGRAG CRYPTO successfully predicted the plunge, adding that $1.90 is “the last line of defense.” 

They also opined that the ongoing correction is the perfect “buy the dip” opportunity. “If you’re looking for a dip to buy, this is it. But don’t let fear hold you back,” the analyst stated.

Another person who doubled down on their support toward XRP is the X user JackTheRippler. The enthusiast told their 340,000 followers on the social media platform that they sold their house to accumulate more of Ripple’s native token.

The Opposite Scenario

Contrary to the belief from some industry participants that the asset would soon restore its bullish trend, one important factor signals that the storm might not be over yet. 

As CryptoPotato reported, whales have sold 130 million XPR (worth over $310 million) in the last 24 hours. The actions of those large investors could significantly impact the performance of the cryptocurrency. 

A mass sell-off can create downward pressure on the price, while accumulation can have the opposite effect. After all, a buying spree will reduce the circulating supply of XRP, which, combined with non-declining demand, should have a positive effect on the valuation.

It is worth mentioning that whales scooped billions of tokens at the beginning of January. Several days later, XRP’s price skyrocketed to as high as $3.39, or just 1% away from reaching its all-time high registered seven years ago. 

The massive volatility caused by the US tariffs against a few countries continues to impact the crypto market, but this time in the opposite direction after a positive development on the US-Mexico front.

Bitcoin’s price, which had tumbled to under $92,000 earlier today, exploded by several grand in less than an hour to almost $100,000.

A lot can and was said of what transpired in the crypto markets within the past couple of days. BTC stood strong above $102,000 on Saturday evening but started to lose value gradually as US President Trump signed orders to impose a 25% tax on Canadian and Mexican imports and 10% on Chinese.

Canada’s Prime Minister retaliated immediately, China said it will seek a more favorable resolution with the World Trade Organization, and Mexico said it will think of its next move.

BTC’s price kept plunging, especially on Monday morning when the Asian markets opened and dumped to a three-week low of around $91,300 (on Bitstamp). However, it bounced off and stood primarily around $95,000 for the past few hours before the bulls initiated a massive surge to over $99,000 minutes ago.

This impressive recovery took place as Mexico’s president – Claudia Sheinbaum – said her country had agreed with the US to pause the tariffs for a month.

Additionally, she said Mexico will “immediately reinforce” its border with the US with 10,000 National Guard soldiers to “prevent drug trafficking from Mexico to the United States, particularly fentanyl.”

[PRESS RELEASE – San Francisco, United States, February 3rd, 2025]

Today, Boba Network introduces a new approach to decentralized finance (DeFi), featuring a self-reinforcing “flywheel loop” that connects minting, liquidity provision, trading, lending, and staking.

The core components—Nucleus, Teahouse, OkuTrade, LendLand, and Lynx—operate in tandem. Users begin by minting bobaETH with WETH on Nucleus. BobaETH can then be deployed in Teahouse liquidity pools, creating deeper markets for exchanges on OkuTrade. Traders can acquire more BobaETH on these markets, while LendLand provides lending and borrowing services around the same asset. Lynx offers further trading options, allowing users to seek additional returns.

The “flywheel loop” describes how each service feeds into the next. Liquidity provision on Teahouse creates favorable trading conditions on OkuTrade, which in turn boosts fees for liquidity providers. LendLand’s capital efficiency model opens up opportunities to borrow or lend BobaETH, and Lynx adds a trading platform for various strategies. Any realized gains flow back into minting or staking, perpetuating a cycle that aims to amplify the ecosystem’s overall growth.

As part of the rollout, the first monthly tranches of Boba tokens are earmarked specifically for Ion/Nucleus’ WETH Staking. Additional reward programs with other partner protocols are expected to follow. These incentives are designed to encourage participation and establish a foundation for further expansion of DeFi on Boba Network.

More information about the integrated DeFi ecosystem on Boba Network, technical documentation, and partnership details are available on official channels.

About Boba Network

Boba Network is a multichain Layer 2 solution designed for scalability, low transaction costs, and enhanced developer capabilities. Through innovations such as HybridCompute™ and account abstraction, Boba Network supports diverse dApps spanning DeFi, gaming, and NFTs, aiming to bring the next wave of users into the blockchain space.

Website: https://boba.network

Twitter: @bobanetwork

LinkedIn: https://www.linkedin.com/company/bobanetwork/