XRP Price Drops 2.63% After Ripple-SEC Settlement and 1 Billion XRP Escrow Release

XRPUSDT experienced a 2.63% price decline over the past 24 hours, with the current price at 3.1972 according to Binance. The price drop is primarily attributed to the conclusion of Ripple's legal settlement with the SEC, which included a $125 million civil penalty and the release of 1 billion XRP from escrow, resulting in increased circulating supply and heightened market activity. Additional factors influencing sentiment include recent whale transfers totaling 60 million XRP and ongoing concerns about major sell-offs, as well as technical indicators showing market indecision near the 20-day EMA. Trading volume remains robust, ranging from $4.13 billion to $8.02 billion, with the circulating supply at approximately 59.31 billion XRP and the price fluctuating between 3.16 and 3.38 in the last 24 hours.