Crypto prices today are largely moving sideways, with several altcoins slipping into the red. Among the top losers is XRP, which has dropped nearly 4% in the past 24 hours and is now trading around $2.09.
While the broader market is showing signs of fatigue, XRP’s decline appears to be driven by a mix of legal, technical, and investor sentiment factors that are weighing heavily on its short-term outlook.
The primary factor behind the XRP price drop is Judge Analisa Torres’ decision on the XRP SEC case. Yesterday, she denied a joint request by Ripple and the SEC for early feedback on their $50 million settlement deal.
She made it clear that no decision will be made until the appeal process is over. This decision has disappointed investors who were hoping for a faster resolution.
The XRP network is seeing lower activity. XRP Scan Data shows a big drop in daily transactions and active addresses. Payments on the XRP Ledger fell from nearly 1.83 million per day to 277,147 on June 27, with an 84% decrease.
Adding to this, large XRP holders have also been selling, which is pushing the price down further.
Investor hopes for a U.S based XRP spot ETF approval have also taken a hit. Just weeks ago, XRP ETF approval odds were over 95%, but now dropped to 76% following the latest court denial.
This fading hope has led many investors to wait on the sidelines instead of buying more XRP.
The broader crypto market isn’t helping either. Bitcoin and other top coins are down as well, weighed down by the ongoing Middle East war and profit-taking. XRP, already dealing with legal stress, is feeling the pressure even more.
From a technical view, XRP’s price has broken below its bullish flag pattern, showing strong selling momentum. However, the MACD indicator also shows bearish signals.
If this trend continues, XRP could dip towards $1.90 before possibly bouncing back with renewed strength.
XRP’s price movement during downturns can be influenced by its unique legal situation. While it generally follows the broader market, its specific legal setbacks can cause larger, independent dips compared to less legally burdened cryptos.
Higher interest rates and inflation generally lead to “risk-off” sentiment, causing investors to shift from speculative assets like XRP and other cryptos to safer investments, thereby pressuring prices downwards across the market.
Positive regulatory clarity or adoption in other countries (e.g., Canada, Asia) can offer some support to XRP’s global price, mitigating negative impacts from U.S. legal uncertainties by diversifying demand and utility.
Altcoins are making some major moves as several indicators point toward the long-awaited altcoin season.…
Story Highlights The live price of Ondo Price is Ondo price could reach a high…
Great news for all the memecoin enthusiasts out there. With a sharp breakout from a…
Story Highlights The Ethereum price today is . ETH price with a potential surge could…
Story Highlights The live price of the Hyperliquid crypto is . The 2025 HYPE price…
Peter Brandt, the trading legend, took to X with his latest Bitcoin chart, a banana-shaped…
