XRP Dips 2.63% Amid $151M Withdrawals, Legal Updates, and $500M Institutional Reserve Plans

XRPUSDT experienced a decline of approximately 2.63% over the past 24 hours, with the price falling from a 24h open of $2.2046 to a current level of $2.1467 on Binance. The price drop is attributed to a combination of significant market events, including over $151 million in XRP withdrawals from Binance, heightened market volatility, and $7.6 million in long liquidations. Additional factors influencing sentiment include ongoing legal developments between Ripple and the SEC, as well as the recent launch of Circle’s USDC on the XRP Ledger and institutional initiatives such as Trident Digital Holdings’ plan to create a $500 million XRP reserve. Despite the recent selloff, XRP remains one of the top five cryptocurrencies by market cap, with 24-hour trading volume exceeding $4.7 billion and the price currently trading within a key support range near $2.15.