XRP Drops 2.77% After Court Ruling and Escrow Release, Trading Volume Hits $3.47 Billion

XRPUSDT experienced a 2.77% decline over the past 24 hours, with the price dropping from a 24h open of $2.2038 to $2.1428 on Binance. The primary driver behind this price decrease is the recent court decision where Judge Torres denied a joint motion on settlement terms between Ripple and the SEC, which has negatively impacted investor confidence and contributed to increased selling pressure. Additionally, Ripple's release of 1 billion XRP from escrow, with 330 million XRP added to the circulating supply, has further weighed on the price amid broader market volatility.

Currently, XRP is trading at $2.1428 with a 24-hour trading volume of approximately $3.47 billion and a market capitalization near $128 billion, positioning it as the third-largest cryptocurrency. The token has been volatile within a range of $2.18 to $2.31, reflecting ongoing uncertainty and technical resistance, while broader crypto market sentiment remains cautious following a sector-wide downturn.