What’s Driving XRP Price Down: A Look at Potential Downsides

Ripple’s XRP has seen a significant price drop this past week, lagging behind major cryptocurrencies like Bitcoin, Ethereum, BNB, and Solana. As of today, XRP is trading around $2.37, down over 5% in the last seven days and shedding another 3.4% within the past 24 hours according to Coingecko data. This decline has reversed some of XRP’s gains since its surge following the Ripple settlement with the SEC on March 19th. 1. As part of that agreement, Ripple will pay $50 million of the original $125 million fine levied by the SEC; however, the SEC’s request to lift the earlier injunction against Ripple is still in progress. 2. Trading volume for XRP has also fallen sharply, dropping from over $4 billion to about $2.9 billion in the past week—a decrease of over 39%. The decline in price and trading volume presents a concerning picture for investors, prompting analysis into potential market patterns.