Ripple Price Drops: Analyzing the Factors Behind Uncertainty and Potential for Recovery

As of now, XRP price stands at $2.12, showing a 3.08% decline in the last 24 hours. The coin’s market cap sits at $123.45 billion with a trading volume exceeding $3.86 billion based on CoinMarketCap. However, this recent dip has sparked concern among investors as XRP has experienced notable declines over the past week and month, with a drop of 13.81% in the last seven days and 17.74% in the past month. ^{[Source: CoinMarketCap]} The reasons behind this price movement are multifaceted.