XRP Drops 2.2% After Court Ruling, Yet Institutional Allocations Signal Potential for Recovery

XRP experienced a 2.20% decline over the last 24 hours, with the price dropping from a 24h open of $2.2026 to $2.1542 on Binance. This recent price movement is primarily attributed to ongoing market volatility following a court ruling that denied a joint settlement motion between Ripple and the SEC, which led to an 18% price drop and shaken investor confidence. Additional downward pressure has come from broader cryptocurrency market corrections and concerns about XRP potentially losing the $2 support level due to external market turbulence, including high-profile public disagreements among influential figures. Despite these factors, institutional interest remains strong, as evidenced by recent announcements from Wellgistics Health, VivoPower International, and Webus International regarding significant XRP treasury allocations. Currently, XRP trades with a 24-hour volume of approximately $3.3-5.35 billion, a market cap near $128-129 billion, and key support and resistance levels at $2.00 and $2.35 respectively, with market participants closely monitoring for a potential recovery.