XRP has experienced a significant decline recently. As of February 2, 2025, the cryptocurrency was trading at approximately $2.6573, marking a 10.40% decrease for the day.

Several factors have contributed to this downturn:

Regulatory Concerns: Investor sentiment has been negatively impacted by uncertainties surrounding the U.S. Securities and Exchange Commission's (SEC) appeal in the ongoing case against Ripple. The SEC filed its appeal-related opening brief on January 15, challenging the Programmatic Sales of XRP ruling. Ripple's response is due by April 16, allowing time for the new SEC leadership to decide on the case's direction.

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Broader Market Sell-Off: The decline in XRP's price aligns with a broader sell-off in both cryptocurrency and tech stock markets. This trend has been influenced by developments such as China's artificial intelligence startup, DeepSeek, which has disrupted the global AI sector, leading to a tech stock sell-off. XRP's price dropped alongside the crypto market in response to this tech stock sell-off.

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