XRP ($XRP) Crypto Forecast: Down 9.0% Today

What is XRP?

XRP is a cryptocurrency token commonly associated with the Ripple payment protocol. The overall cryptocurrency market has been volatile today, with XRP experiencing a significant bearish movement.

Why is XRP going down?

XRP crypto is down 9.0% on Oct 3, 2024 20:35

• The news of banks conducting live digital asset trials on the SWIFT network in 2025 may have caused uncertainty among XRP investors, leading to a bearish sentiment.
• Peter Brandt's bearish price prediction for XRP could have added to the selling pressure on the token, as his opinions carry weight in the crypto community.
• Despite high hopes for a major price surge among XRP holders, the ongoing SEC appeal against Ripple seems to be casting a shadow of doubt over the token's future performance.
• The SEC's decision to appeal the 2023 ruling on Ripple and XRP securities classification has likely contributed to the negative market sentiment surrounding XRP today.

XRP Price Chart

XRP News

Banks To Begin Live Digital Asset Trials on SWIFT Network In 2025

Banks To Begin Live Digital Asset Trials on SWIFT Network In 2025

https://www.thecoinrepublic.com/2024/10/03/banks-to-begin-live-digital-asset-trials-on-swift-network-in-2025/

Peter Brandt Pokes XRP Community With Bearish Price Prediction

Peter Brandt Pokes XRP Community With Bearish Price Prediction

https://coingape.com/peter-brandt-pokes-xrp-community-with-bearish-price-prediction/

Ripple’s XRP Holders Maintain High Hopes for Major Price Surge Despite SEC Appeal

Ripple’s XRP Holders Maintain High Hopes for Major Price Surge Despite SEC Appeal

https://zycrypto.com/ripples-xrp-holders-maintain-high-hopes-for-major-price-surge-despite-sec-appeal/

Crypto Analyst Maintains $7.50 XRP Target Despite SEC Appeal Against Ripple

Crypto Analyst Maintains $7.50 XRP Target Despite SEC Appeal Against Ripple

https://www.newsbtc.com/xrp-news/crypto-analyst-7-50-xrp-target-sec-appeal/

SEC Moves To Appeal 2023’s Landmark Ripple and XRP Securities Ruling

SEC Moves To Appeal 2023’s Landmark Ripple and XRP Securities Ruling

https://dailyhodl.com/2024/10/03/sec-moves-to-appeal-2023s-landmark-ripple-and-xrp-securities-ruling/

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XRP Price History

03.09.2024 - XRP Crypto was down 10.6%

• Ongoing legal issues with a regulatory body and the drawn-out legal processes have likely contributed to the bearish movement of XRP.
• A failed breakout attempt and subsequent 15% drop in XRP price could be attributed to the overall market sentiment and lack of positive catalysts.
• An AI prediction for XRP's price in 2024 may have added to the uncertainty surrounding the token, leading some investors to reevaluate their positions.
• While the performance of a well-known cryptocurrency and a particular resistance level may not directly impact XRP, overall market trends and sentiments in the cryptocurrency space can influence the movement of various tokens, including XRP.

03.09.2024 - XRP Crypto was down 8.0%

• Despite a bullish $7.50 XRP target maintained by a crypto analyst, the SEC's appeal against Ripple seems to have weighed heavily on XRP's market movement.
• The SEC's decision to appeal the 2023 Ripple and XRP securities ruling has created uncertainty in the market, leading to a bearish trend for XRP.
• Speculation around the potential conclusion timeline for the Ripple SEC case might be adding to the market volatility for XRP.
• The suggestion by Cardano's founder that the SEC vs Ripple case could potentially replace the Howey Test raises further questions and concerns among investors, contributing to the bearish movement of XRP.

03.09.2024 - XRP Crypto was down 10.3%

• XRP experienced a bearish movement as traders reacted to the SEC's appeal in the Ripple lawsuit, causing uncertainty and selling pressure.
• The potential implications of the SEC vs. Ripple case on the broader cryptocurrency industry raised concerns among investors, leading to a sell-off of XRP.
• Despite positive news of Ripple's partnership with Mercado Bitcoin for cross-border payments in Brazil, the regulatory overhang from the lawsuit overshadowed any positive sentiment.
• The Cardano founder's suggestion of a potential replacement for the Howey Test added to the regulatory uncertainty surrounding XRP and contributed to the negative market sentiment.

03.09.2024 - XRP Crypto was down 12.0%

• XRP experienced a strong bearish movement today, possibly due to the SEC filing a notice of appeal in the Ripple lawsuit, causing uncertainty among investors.
• Despite the negative news, XRP liquidations were not as bad as expected, indicating some resilience in the market.
• The partnership between Ripple and Mercado Bitcoin in Brazil could have been overshadowed by the lawsuit news, leading to a lack of positive momentum for XRP.
• The spike in Dogecoin's on-chain activity and price rally prediction may have diverted attention and investment away from XRP, impacting its performance negatively.

03.09.2024 - XRP Crypto was down 11.1%

• The bearish movement of XRP today is possibly due to the ongoing legal battle between Ripple and the SEC, creating uncertainty about XRP's regulatory status.
• The submission of an XRP-ETF application by Bitwise to the SEC has potentially worsened the negative sentiment towards XRP, hinting at an extended regulatory process.
• Despite the integration of XRP Ledger with Axelar's Mobius Development Stack showing promise for technological progress, current market trends indicate regulatory concerns overshadowing positive advancements.
• Speculation regarding a new crypto test post XRP case appeal has likely fueled market uncertainty, contributing to the bearish movement of XRP today.

03.09.2024 - XRP Crypto was down 9.0%

• The news of banks conducting live digital asset trials on the SWIFT network in 2025 may have caused uncertainty among XRP investors, leading to a bearish sentiment.
• Peter Brandt's bearish price prediction for XRP could have added to the selling pressure on the token, as his opinions carry weight in the crypto community.
• Despite high hopes for a major price surge among XRP holders, the ongoing SEC appeal against Ripple seems to be casting a shadow of doubt over the token's future performance.
• The SEC's decision to appeal the 2023 ruling on Ripple and XRP securities classification has likely contributed to the negative market sentiment surrounding XRP today.

03.09.2024 - XRP Crypto was down 10.7%

• XRP experienced a strong bearish movement, possibly due to a 9.2% plunge in its price.
• The news of 60 million XRP being sent to top crypto exchanges might have contributed to increased selling pressure and negatively impacted the token's price.
• Despite Ripple launching its managed crypto-powered payments solution in Brazil, the market sentiment towards XRP remained bearish, indicating that other factors were at play.
• The surge in Ripple's transaction volume may not have translated into a positive price movement for XRP, suggesting that market participants were focused on other aspects influencing the token's performance.

03.09.2024 - XRP Crypto was down 11.4%

• There are concerns that XRP may face challenges against Bitcoin, as suggested by a prominent trader. This cautionary sentiment could have resulted in a negative trend for XRP.
• A recent partnership between Ripple and Mercado Bitcoin in Brazil may not have garnered much attention due to the prevailing pessimism surrounding XRP, potentially impacting its market performance.
• While positive sentiment was observed in the cryptocurrency market following the launch of Mobius integrated with Babylon and EigenLayer by Axelar, XRP did not benefit from this favorable momentum.
• The increase in on-chain activity for Dogecoin, along with predictions of a price rally, may have diverted investments and focus away from XRP, leading to a decline in its value.

03.09.2024 - XRP Crypto was down 10.6%

• The partnership between Ripple and Mercado Bitcoin to enhance cross-border payments in Brazil was positive news for XRP, but it was overshadowed by the negative impact of the SEC appeal in the Ripple lawsuit.
• Traders' reaction to the SEC appeal and the uncertainty surrounding the legal proceedings led to a bearish movement in XRP's price.
• The warning from legendary trader Peter Brandt about XRP potentially heading to zero against Bitcoin added to the selling pressure on the token.
• Despite the positive developments like the launch of Mobius with integration from Axelar, XRP struggled to maintain its price due to the prevailing negative sentiment from the SEC lawsuit and regulatory challenges.

03.09.2024 - XRP Crypto was down 11.3%

• The bearish movement in XRP today can be attributed to the SEC's latest appeal in the ongoing lawsuit with Ripple, leading to legal uncertainty and selling pressure among investors.
• The spike in whale activity could have also contributed to the downward pressure on XRP's price, as large holders may have been offloading their positions.
• Despite the negative price movement today, the potential for a significant price increase mentioned recently highlights the speculative nature of cryptocurrency markets, where sentiment can quickly shift based on regulatory developments and market dynamics.
• XRP reaching a $1 billion milestone signifies a significant market capitalization, but its impact on price may be overshadowed by the current focus on regulatory challenges and investor behavior.

03.09.2024 - XRP Crypto was down 10.5%

• XRP experienced a significant bearish movement, plunging 9.2% along with the overall decline in the CoinDesk 20 index. This indicates a broader market trend affecting multiple cryptocurrencies.
• The surge in Ripple's transaction volume may not have directly translated to a positive price movement for XRP, as other factors like regulatory challenges could be overshadowing its utility.
• The ongoing legal battle between Ripple and the SEC might be contributing to the negative sentiment surrounding XRP, as uncertainties regarding its regulatory status continue to weigh on investors.
• Despite positive partnership news with Mercado Bitcoin for business-focused payments, the bearish market movement suggests that broader market conditions and regulatory concerns are currently exerting more influence on XRP's price dynamics.

03.09.2024 - XRP Crypto was down 11.6%

• The bearish movement in XRP today could be linked to the ongoing legal battle between Ripple and the SEC, as evident in Ripple's response to the SEC's appeal. Investor concerns about the uncertain regulatory status of XRP may have led to increased selling pressure.
• Although the news of Bitwise submitting an XRP-ETF application to the SEC initially brought some optimism to the market, broader regulatory issues seem to have dampened overall sentiment.
• Despite predictions for a bullish Q4, the current legal challenges and regulatory landscape appear to be the primary drivers affecting XRP's price movements.
• The attention in one source to Bitcoin's price level reaching $71,000 indicates a shift in market focus towards other top cryptocurrencies, potentially diverting interest from XRP and contributing to its current bearish trends.