XRP Drops 6.67% Amid SEC Legal Uncertainty Despite ETF Approval and Derivatives Growth

XRPUSDT declined by 6.67% over the past 24 hours, with the price falling from a 24h open of 2.1132 to 1.9723, according to Binance data. The price drop is primarily attributed to renewed legal uncertainty surrounding the SEC vs. Ripple case, including speculation about potential US government intervention in Ripple’s escrowed XRP reserves, which increased market anxiety and led to a risk-off sentiment among traders. Despite positive developments such as the Ontario Securities Commission’s approval of a spot XRP ETF and the expansion of XRP derivatives, these were outweighed in the short term by concerns over unresolved regulatory issues and failed attempts to break above key resistance levels. XRP continues to trade with elevated volatility, and market participants are closely monitoring legal and regulatory updates for further direction. Trading volume remains robust, and XRP holds its position among the largest cryptocurrencies by market capitalization.