Here's the latest on XRP and Binance as of May 31, 2025:
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📉 XRP Price Update
is currently trading at $2.12, down approximately 4.2% over the past 24 hours. Despite this recent dip, XRP has experienced a significant rebound, rising over 50% in the past month after hitting a local low of $1.80.
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⚖️ Regulatory Developments
SEC Drops #Binance Lawsuit: The U.S. Securities and Exchange Commission (SEC) has dismissed its lawsuit against Binance, marking a significant legal victory for the crypto industry. This move indicates a shift toward a more cooperative regulatory approach under the Trump administration.
Ripple's Legal Proceedings: Ripple has submitted a letter to the SEC, urging clarity on when a token should lose its security label. A federal judge recently granted Ripple more time to respond in their ongoing case with the SEC.
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📊 Market Dynamics
Upcoming Token Unlock: Ripple is scheduled to unlock 1 billion #XRP (valued at approximately $2.3 billion) on June 1, 2025. Historically, such unlocks have caused volatility, with a 20% variation observed in 2024.
Potential Supply Shock: Exchange balances, especially on Binance, have dropped by over 80 million XRP this year, while whales have withdrawn approximately $2.5 billion worth of XRP, indicating long-term holding. This trend suggests a tightening liquidity scenario.
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🔮 Future Outlook
Price Predictions: Standard Chartered projects $XRP could reach $5.50 by the end of 2025, citing factors like a more crypto-friendly regulatory environment and increased institutional adoption.
ETF Prospects: Rumors suggest an XRP ETF could be approved in 2025, with a 75%+ approval chance, potentially bringing significant institutional capital into the market. #Xrp🔥🔥 #CEXvsDEX101 #TradingTypes101