XRP Slides 2.51% Amid ETF Approval, Ripple Banking License Bid, and Surging Trading Volumes

XRPUSDT experienced a 2.51% price decline over the past 24 hours, with the current price at 2.2226 USDT and a 24h open of 2.2799 USDT. The recent price decrease can be attributed to ongoing market volatility and mixed sentiment following significant news events, including the SEC's approval of the Grayscale Digital Large Cap Fund's conversion to a spot ETF including XRP, Ripple’s application for a U.S. national banking license, and upcoming regulatory hearings involving Ripple’s CEO. While these developments have generated market interest and contributed to increased trading volume (ranging from $1.96 billion to $2.94 billion), short-term uncertainty and profit-taking after recent gains have weighed on price performance. XRP remains the 4th largest cryptocurrency by market capitalization, with a circulating supply of approximately 59 billion and a market cap near $131 billion, trading in a range of $2.14 to $2.31 in the last 24 hours.