XRP Drops 4.74% Amid $1.47B Exchange Transfers, ETF Approval, and Ripple-SEC Lawsuit Developments

XRPUSDT experienced a 4.74% price decline over the past 24 hours, with the current price at 2.8524 USDT, opening at 2.9944 USDT. The price drop follows a period of heightened activity, including the transfer of over $1.47 billion in XRP to exchanges and significant trading volume from South Korean traders on Upbit, who accounted for $500 million in spot purchases. Market sentiment has been influenced by the approval of the ProShares Ultra XRP ETF (UXRP) on NYSE Arca, anticipation surrounding additional XRP-linked ETFs, and ongoing developments in the Ripple-SEC lawsuit, which is nearing its conclusion. Despite recent volatility, XRP remains a top-ranked digital asset, with robust trading volumes and a market capitalization in the $170–174 billion range, and a circulating supply of approximately 59.13 billion tokens.