XRP Drops 7.23% Amid Inflation Shock and Legal Uncertainty, Trading Volume Surges on Binance

XRPUSDT experienced notable volatility over the past 24 hours, with the price declining by 7.23% to $3.0393 on Binance. The price drop is primarily attributed to broader market reactions following hotter-than-expected inflation data, which triggered a downturn across major cryptocurrencies. Additional factors influencing market sentiment include ongoing legal developments involving Ripple Labs and the SEC, as well as technical analysis indicating XRP is testing key support levels around $3.10. Despite the price decrease, trading volume remains robust, reflecting heightened market activity and interest. XRP currently ranks third by market capitalization, with a circulating supply of approximately 59.31 billion tokens and a 24-hour trading volume ranging from $9.38 billion to $17.40 billion.