The price of XRP fell to $2.08, dropping 4% in the past 24 hours despite positive signals within the wider Ripple ecosystem. The decline appears due to a confluence of factors including market mechanics, macro pressures, and technical weakness all contributing to downward pressure. 5.94 million XRP options expired on December 5th, leading to selling pressure as traders seek to cut losses following the expiry of these contracts that had a max pain price higher than the closing price of $2.08. This decline coincides with a broader market dip in the cryptocurrency space and an increase in Bitcoin dominance. This contributed to XRP’s downward movement, as investors shifted their attention from altcoins like XRP towards Bitcoin. 58.68% is the current Bitcoin Dominance, further emphasizing this trend. 2025 marks a milestone for Ripple with a new stablecoin by name RLUSD reaching $1 billion in market cap, which has expanded utility within the XRP ecosystem. Despite the drop, investors remain optimistic about XRP’s future, especially after the launch of the first U.S.-listed XRP ETF, Canary XRPC, which saw massive trading volume on its launch day with over $58 million in assets under management. 906.46 million is the total amount of institutional ETF exposure that the XRP market now holds. Analysts are currently uncertain about the price’s trajectory. CasiTrades anticipates a potential support level at $2.04, which will serve as a key indicator for any upward trend or further decline. If the support holds, there might be an opportunity to see XRP prices rise past the $2.41 and $2.65 levels. However, if the support breaks down, a more significant drop might occur to $1.64 before recovery can happen. The market waits for this key level to dictate whether further price movements are upward or downward.