XRP (XRP-USD) is spiraling downward, shedding nearly 30% in the last 30 days, with a 10.5% drop in the past 24 hours alone. Despite positive market developments, the ongoing SEC lawsuit against Ripple and broader market weakness are weighing heavily on XRP.
Legal expert James Murphy, aka MetaLawMan, suggests that the SEC is stalling the Ripple case, even as it drops charges against Coinbase (COIN) and ends its Robinhood (HOOD) investigation. The $125 million fine on Ripple and potential regulatory conflicts have only complicated negotiations, pushing a resolution further down the road.
Whales Are Dumping XRP as Open Interest Crashes
Investor sentiment isn’t helping either. XRP’s open interest (OI) has plummeted 20%, mirroring past market dips that preceded major sell-offs, according to CoinGlass. Large holders, known as whales, have been unloading their XRP holdings. This has added to the downturn.
The situation worsened when Trump reaffirmed his trade tariffs on Canada and Mexico. This sparked a 9% drop in the broader crypto market. XRP, which was already under pressure, tanked 22% between Feb. 24 and Feb. 25, reflecting the risk-off mood.
Technical Breakdown Signals a 30% Drop to $1.50
Charts aren’t offering much relief either. XRP recently broke below a major symmetrical triangle pattern, signaling a potential freefall to $1.50, according to analysts like EGRAG CRYPTO and Kwantxbt.
For now, XRP’s future depends on legal clarity and market sentiment. But with whales exiting and regulatory uncertainty dragging on, XRP holders should brace for more volatility ahead. At the time of writing, XRP is sitting at $2.2434.
