XRP Drops 3.45% to $2.17 Amid Canadian ETF Approval and Surging Institutional Activity

XRP is currently trading at $2.1667 on Binance, reflecting a 3.45% decline over the past 24 hours from a 24h open of $2.2441, with a 24-hour trading volume near $3.9 billion and a market capitalization of approximately $55.3 billion. The recent price decrease is primarily attributed to profit-taking and short-term market adjustments following the announcement of the Purpose XRP Spot ETF approval in Canada, which initially drove bullish sentiment and a price uptick. Additionally, the US SEC’s delay in approving a spot XRP ETF has contributed to uncertainty and tempered upward momentum, despite strong institutional accumulation and record whale activity. Overall, XRP remains highly liquid with elevated trading activity, and while it has seen a short-term pullback, underlying trends point to sustained institutional interest and ongoing legal developments as key drivers for future price action.