XRP Dips 2.59% Amid Spot ETF Launch Surge and $9B Trading Volume on Binance

XRPUSDT experienced a 2.59% decline over the past 24 hours, opening at 1.9819 and currently trading at 1.9305 on Binance. The recent price drop is largely attributed to increased bearish sentiment following the launch of multiple spot XRP ETFs, including those by 21Shares and Bitwise, which, despite marking significant institutional adoption, coincided with substantial selling pressure and high trading volumes—potentially due to whale activity and a broader "risk-off" mood in the crypto market. Market volatility has remained high, with 24-hour trading volume nearing $9 billion and XRP maintaining its position as the fourth largest cryptocurrency by market capitalization, currently estimated between $112 and $117 billion.