XRP Token Drops 3% as SEC Case Uncertainty and Escrow Release Fuel Bearish Sentiment

XRPUSDT experienced a 3.00% decline over the past 24 hours, with the price dropping from a 24h open of 2.2225 to 2.1558 (Binance data). This price movement is primarily attributed to continued uncertainty surrounding the ongoing SEC v. Ripple legal case, particularly following Judge Torres’ recent denial of a joint motion for settlement, which has weighed on investor confidence and contributed to increased selling pressure. Additional factors include the recent release of over 1 billion XRP tokens from escrow and subdued trading volumes, reflecting cautious market sentiment and a preference for short positions among traders.

Currently, XRP is trading at 2.1558 with a 24-hour trading volume of $3.47 billion and a market capitalization of approximately $129 billion, maintaining its position as the third-largest cryptocurrency. Open interest remains high at $3.94 billion, with most traders holding short positions, indicating ongoing speculative activity amid a cautious and bearish market environment.