Ripple Price Plummets: Understanding the Reasons Behind the Significant Decline

Despite recent optimism surrounding XRP’s potential and positive developments in the crypto space, including US President Trump’s Twitter mentions of XRP, increasing speculation about a possible US SEC lawsuit dismissal, and pro-crypto appointments within the White House, the price of XRP has experienced a sharp 29.9% decline over the past 30 days. In just the last week alone, this trend has further accelerated with an additional 14% drop. In the last 24 hours, the price has plummeted by approximately 10.5%. 81 million XRP coins have been dumped onto exchanges in recent times, raising concerns about potential market instability. However, is it time to sell? This article dives into the reasons behind this sudden price drop and explores whether a recovery is possible.