XRP Token Slides 2.17% Amid Ripple’s Bank Charter Bid and 846% Liquidation Surge

XRPUSDT experienced notable volatility over the past 24 hours, with the price declining by 2.17% to $2.2138 on Binance. The price drop is primarily attributed to heightened market turbulence following Ripple’s announcement of its application for a U.S. national bank charter and a master account at the Federal Reserve, which introduced both optimism and uncertainty among traders. Additional contributing factors include significant liquidation events—most notably an 846% liquidation imbalance—alongside ongoing speculation regarding Ripple’s regulatory maneuvers, such as the recent locking of 400 million XRP in escrow and large-scale token movements. Market participants are also closely monitoring the pending outcome of the Ripple vs. SEC lawsuit, which continues to influence sentiment and trading activity.

Currently, XRP’s 24-hour trading volume remains robust, ranging from $2.54 billion to $3.61 billion, with a circulating supply of 59.07 billion XRP and a market capitalization near $132.2 billion. The asset has traded between $2.22 and $2.30 in the last 24 hours, reflecting sustained interest despite ongoing volatility.