XRP Token Drops 5.13% Amid $6B Market Cap Shift and Major Institutional Moves

XRPUSDT experienced a 5.13% decline over the last 24 hours, with the current price at $2.0966 and a 24-hour trading volume of approximately $2.66 billion. The recent price drop is primarily attributed to heightened selling pressure, as indicated by a $6 billion decrease in market capitalization and increased trading activity, including over 17 billion XRP transferred to Binance in the past week. Additional factors influencing market sentiment include ongoing anticipation surrounding the Ripple vs. SEC lawsuit, which is expected to reach a turning point by June 13, 2025, and notable institutional interest highlighted by a $300 million XRP strategic reserve filing from Chinese firm Webus. Despite short-term volatility, XRP remains among the top cryptocurrencies by market capitalization, with a circulating supply of approximately 58.75 billion XRP and a total supply near 100 billion.