Development of a gel-free bio-potential electrode for the wearable health monitoring applications is a challenging goal. A conductive fabric electrode can replace the traditional conductive gel electrode. This paper describes the development of a conductive fabric electrode with regard to its potential use for electrocardiogram (ECG) acquisition. Since direct contact between the conductive fabric and human skin will be involved, an investigation on the effect of perspiration on the electrical conductivity of fabric is critical. Hence, the developed electrode was treated with alkaline (pH=8.0) and acidic (pH=4.3) perspiration for 3, 8 and 40 h to study the effect of perspiration on the conductivity and surface morphology. The acquired ECG signals were analysed with respect to morphology and frequency distribution. Conductivity tests were carried out on the perspiration-treated test electrodes by two probe method and surface resistivity meter. The ECG signals of volunteers were also recorded. The results showed a slight decrease in conductivity but without affecting the morphology and the quality of ECG signal. Leached silver content in the acid perspiration-treated solution was found to be 0.117 ppm as determined by Atomic absorption spectroscopy. The result shows that soft conducting textile materials can indeed be used as an electrode for ECG acquisition. This is a novel type of gel-free fabric electrode for long term wearable health monitoring applications including space application.