Ripple’s XRP token experienced a significant price drop below $2 today, likely due to market fluctuations and the recent launch of two new exchange-traded funds (ETFs) tracking its performance. While these new products brought increased market interest, they also triggered selling pressure, leading to a price slump. This trend mirrors broader cryptocurrency markets as Bitcoin recently hit a seven-month low of $85,000 and Ethereum is struggling below $2,800, resulting in significant losses across the board. However, Ripple’s XRP remains particularly impacted, with its weekly losses surpassing those seen in other altcoins like SOL, TRX, and BNB. The launch of these ETFs has undoubtedly sparked investor hopes for a price surge once regulatory approval is secured. However, this optimism was met with immediate selling pressure upon the ETFs’ release, leading to a price drop below $2 for XRP. Before today’s dip, it had previously touched similar levels in June and April, erasing all of its year-to-date gains. This highlights the complex dynamics between market sentiment and regulatory developments for Ripple and other crypto assets.