XRP Drops 3.4% as $6B Market Cap Loss and SEC Uncertainty Weigh on Price

XRPUSDT experienced a 3.40% decline over the past 24 hours, with the price falling from 2.2454 to 2.1691 on Binance. This drop is primarily attributed to continued selling pressure amid heightened market volatility, a notable reduction in trading volume, and negative sentiment following a $6 billion decrease in market capitalization. Contributing factors include uncertainty surrounding the upcoming SEC status report deadline in the Ripple case, large XRP transfers to exchanges as flagged by Whale Alert, and the general downtrend in the broader crypto market. Despite recent positive corporate developments such as Ripple's integration with traditional finance, the launch of RLUSD, and a $300 million XRP-focused treasury initiative, these have not offset the prevailing bearish momentum. Currently, XRP trades at 2.1691 with a 24-hour volume of approximately $1.98 billion, reflecting a cautious market outlook and subdued trading activity.