26.06.2025 18:58
XRP, the cryptocurrency associated with Ripple Labs, experienced a significant 5% price drop on Thursday, June 26th, becoming the worst performing asset among the top ten cryptocurrencies. This sharp decline followed a US District Judge's rejection of a proposed settlement modification between Ripple and the Securities and Exchange Commission (SEC). The market reacted negatively to this renewed legal uncertainty, pushing XRP lower than other major cryptocurrencies which experienced only minor dips.
Judge Analisa Torres's decision to deny the joint request for settlement modification – a $50 million deal – was unexpected. Her ruling underscored the principle that private agreements cannot supersede public judgments, leaving Ripple with two clear options: appeal the decision through established legal channels, or withdraw its appeal. This legal ambiguity fueled the negative sentiment surrounding XRP and contributed heavily to its price decline.
While leading cryptocurrencies such as Bitcoin, Ethereum, Solana, and BNB showed minimal price fluctuation (less than 1% daily decrease), largely due to a reported ceasefire between Israel and Iran impacting market sentiment positively, XRP's situation remains uniquely challenging. The technical analysis suggests that XRP is testing its $2.00 support level. This suggests potential for brief stabilization before any further price drops, highlighting the volatility of the market's reaction to legal proceedings impacting XRP's future.
The 24-hour trading volume for XRP reached $2.47 billion, reflecting the high trading activity spurred by the judge's ruling and the subsequent price volatility. With a market capitalization of $125.20 billion and a 24-hour volatility of 3.2%, XRP's future trajectory remains heavily dependent on the outcome of the ongoing legal battle between Ripple and the SEC, and the choices Ripple makes regarding its legal strategy. This uncertainty continues to cast a shadow over investor confidence in the cryptocurrency. Information sourced from internet resources.
