XRP Drops 4% as SEC Delays ETF Decisions, Trading Volume Surges to $6.3 Billion

XRPUSDT experienced a 4.01% price decline over the past 24 hours, with the current price at 2.9279 USDT on Binance. The downturn is primarily attributed to the U.S. SEC's decision to postpone rulings on several spot XRP ETF applications, which has led to increased market uncertainty and a risk-off sentiment across the broader cryptocurrency sector. Additional selling pressure was observed as traders took profits following notable gains in July and early August, and technical factors such as XRP trading near its 50-day exponential moving average have contributed to volatility. Despite the recent price drop, XRP saw substantial trading volume between $5.6 billion and $6.3 billion, with the price fluctuating from a high of 3.1460 to a low of 2.9391 in the last 24 hours, and its market capitalization remains robust at approximately $174.03 billion.