Ripple’s XRP Plummets: Potential 40% Crash Looms?

XRP has experienced a significant downturn this week, lagging behind major cryptocurrencies like Bitcoin, Ethereum, BNB, and SOL. Currently trading at $2.37, the token has dropped over 5% in the past seven days, with a notable 3.4% slide within the last 24 hours according to Coingecko data. This downward trend comes after XRP’s rally following the settlement agreement between Ripple and the SEC. This deal saw Ripple pay $50 million of the original $125 million fine imposed by the SEC, with the SEC also seeking to have an earlier injunction against Ripple lifted. 40% decline is a potential outcome if XRP fails to hold above the $2 level.