Ripple’s XRP Price Plummets: Why Is It Dropping?

XRP, Ripple’s native cryptocurrency, has experienced a sharp decline this week, falling behind other major cryptocurrencies like Bitcoin, Ethereum, Binance Coin (BNB), and Solana (SOL). Current trading data shows a drop of over 5% in the past seven days, with a significant further dip of 3.4% within the last 24 hours according to Coingecko. As reported, XRP’s price currently hovers around $2.37, a figure that has significantly impacted its performance over recent days. This downturn follows XRP’s recent rally triggered by news of Ripple’s settlement with the SEC.