XRP Drops 3.17% Amid Escrow Moves and SEC Developments as Trading Volume Surges on Binance

XRPUSDT has experienced a 3.17% decline over the past 24 hours, with the price currently at 2.7267 on Binance, opening at 2.8160. The price decrease follows a period of heightened volatility, driven by significant market events such as large-scale liquidations, ongoing legal developments with the SEC, and notable on-chain activity including Ripple’s escrow movements and substantial token releases. Increased institutional interest, as reflected by a 38% rise in options open interest, and active trading during Binance’s #BinanceTurns8 campaign have contributed to elevated trading volumes and price fluctuations. Despite recent bullish momentum and strong trading activity, short-term selling pressure and market reactions to large token movements have led to the observed price correction.

XRP remains actively traded, with a 24-hour volume of over $1.15 billion on Binance, and a circulating supply of approximately 59.13 billion tokens, while the current market capitalization is around $165.33 billion.