XRP Token Drops 5.89% Amid Legal Uncertainty and High Profit-Taking, Traders Eye Key Support

XRPUSDT declined by 5.89% over the last 24 hours, with the price falling from 2.0829 to 1.9602 according to Binance data. The price drop is primarily attributed to ongoing speculation regarding potential US government seizure of Ripple’s escrowed XRP and continued legal uncertainty as the market awaits a significant court decision. Additional factors include increased investor profit-taking, as indicated by recent on-chain data showing high realized profits, and comparisons with newer DeFi tokens, which have contributed to cautious sentiment. Despite record-breaking network activity and recent momentum from ETF-related developments, the market remains bearish in the short term, with traders closely monitoring the $2.08 support level and watching for a reversal toward the $2.20–$2.35 resistance range. Trading activity remains elevated, reflecting heightened speculation and technical trading patterns.