XRP Price Drops 2.58% Amid Major Transfers and Teucrium ETF Launch, Trading Volume Surges

XRPUSDT experienced a 2.58% price decline over the past 24 hours, with the current price at 3.4703 and a 24h open of 3.5621 on Binance. The recent price movement is attributed to a combination of factors, including large on-chain transfers such as Ripple's internal movement of over 210 million XRP and a 20 million XRP transfer from Upbit to an unknown wallet, as well as shifting investor sentiment indicated by a sharp drop in new investor participation. Additional influences include the launch of the Teucrium XRP ETF, which has attracted significant institutional capital, and broader market volatility following XRP's recent all-time high of 3.66. Despite the short-term decline, XRP maintains high trading activity, with 24-hour volumes ranging from $6.94 billion to $14.65 billion and a market capitalization estimated between $205 billion and $214 billion, reflecting its strong position among top cryptocurrencies.