XRP Price Drops 4.61% Amid EVM Sidechain Launch, ETF Speculation, and $1B Whale Transfers

XRPUSDT has experienced a 4.61% price decline over the last 24 hours, with the current price at 2.1692 USDT on Binance, down from a 24h open of 2.2740. The price movement is attributed to a combination of factors: the launch of the EVM sidechain on the XRP Ledger drove initial bullish momentum and briefly pushed the price above 2.20, but subsequent profit-taking and technical resistance led to a pullback. Market sentiment was further influenced by reports of a potential spot XRP ETF approval, which increased optimism, and by large transfers of over $1 billion in XRP to unknown wallets, contributing to volatility. Additionally, mixed technical signals—such as a bullish breakout pattern versus a descending triangle formation—have led to uncertainty among traders.

XRP remains the fourth largest cryptocurrency by market capitalization at approximately $128.1 billion, with a circulating supply of about 59 billion coins. The 24-hour trading volume has been robust, ranging from $3.1 billion to $3.66 billion, reflecting heightened activity and volatility amid ongoing developments and speculation surrounding regulatory outcomes and new product launches.