XRP, the third-largest cryptocurrency by market cap, has dropped by 14% in the last 24 hours, reaching a low of $2.58. This is the lowest point since January 14, 2025.
The sudden decline comes as the crypto market faces pressure from ongoing trade tensions, according to analyst Timothy Sykes. He believes that these tensions will affect both cryptocurrency and the U.S. stock market in the coming days.
As for the broader market, Bitcoin (BTC) is down more than 4%, while Dogecoin (DOGE) is seeing the worst performance in the top 10, falling nearly 15%.
Sykes suggests that the market could face further declines, with Ripple’s XRP showing signs of weakness. He adds that Ripple Labs—the company behind XRP—has long been battling legal issues with the U.S. Securities and Exchange Commission (SEC).
Ripple has been fighting the SEC’s accusations that XRP is an unregistered security. In a court ruling from July 2023, the judge determined that XRP itself is not a security, but the court also found that Ripple’s institutional sales of XRP violated securities laws.
Despite these challenges, Ripple remains optimistic as it awaits regulatory clarity under the new SEC administration.
With the arrival of acting SEC Chair Mark Uyeda, a shift towards a crypto-friendly stance could provide relief to XRP and the broader cryptocurrency market.
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