Ripple (XRP) Plummets to 3-Week Low Despite Strong Endorsement From SBI CEO
2025-02-03
Category: None

TL:DR;
It’s worth noting that XRP’s price drop is far from a corner case. The entire crypto market turned red in the past 24 hours, perhaps driven by the geopolitical uncertainty followingPresident Trump’s tariffsagainst China, Canada, and Mexico.
Bitcoin, for instance,plungedbelow $100,000 earlier today and kept nosediving to a three-week low of its own at $97,000. Many other altcoins have posted double-digit price declines.
XRP stood at $3.07 yesterday, as reported, but slumped beneath the $3 mark earlier today and kept dropping to $2.53 (on Bitstamp). This intraday low became the asset’s lowest valuation since January 14.
What’s particularly compelling in XRP’s case is the fact that this crash came just hours after Crypto Twitter (X) started sharing a video of SBI’s CEO, Yoshitaka Kitao, who noted that he anticipates the case between Ripple and the SEC to be resolved in a few weeks.
Moreover, he said he expects XRP’s price to “soar significantly” if the court determines that the asset is not a security – which has been the main dispute between the company behind the token and the SEC for over four years now.
The crypto market is typically quite susceptible to such big endorsements from prominent figures, but today’s politically driven crash seems to be an exception. This only proves a recent report that the crypto industry reacts more violently to FUD than actual positive news.