XRP Drops 4.67% Amid Bitcoin Flash Crash, SEC Lawsuit Resolution, and Surging Exchange Transfers

XRPUSDT has declined by 4.67% in the past 24 hours, with the current price at 2.8750 according to Binance, following a 24h open of 3.0159. The price drop is primarily attributed to broader market headwinds, including a recent Bitcoin "flash crash" triggered by a large whale sale, which led to forced liquidations across the sector. Additional factors influencing sentiment include the SEC's conclusion of its lawsuit against Ripple, classifying XRP as not a security and issuing a $125 million penalty, as well as increased on-chain activity with large XRP transfers to exchanges. Despite the downturn, trading volume remains robust, ranging from $5.57 billion to $7.46 billion, and XRP continues to rank among the top cryptocurrencies with a market capitalization near $170 billion and a circulating supply of approximately 59.48 billion XRP.