XRP's price movement today is primarily influenced by macroeconomic factors and internal market dynamics. The strengthening of the U.S. dollar has exerted downward pressure on cryptocurrencies, including XRP, as investors shift towards dollar-denominated assets. This trend is compounded by the anticipation of a significant token unlock by Ripple, scheduled for January 1, 2025, which is expected to increase selling pressure. Additionally, the Federal Reserve's recent cautious outlook for 2025, despite a 25-basis-point interest rate cut, has added to the uncertainty, impacting risk assets like XRP.
The looming SEC appeal deadline also contributes to investor anxiety, as potential rulings could reshape Ripple's regulatory landscape and influence XRP's market sentiment. The ongoing debate around the SEC v Ripple case highlights the complexities of XRP's regulatory environment, with the possibility of XRP falling under stricter regulatory scrutiny if the SEC's appeal is successful. This uncertainty has led to a decline in XRP's open interest, as traders close positions amid growing market volatility.
XRP's price has decreased by 3.89% today, trading at $2.011610, with a high of $2.140708 and a low of $2.007643.