The crypto market is facing turbulence, and XRP is no exception. With an intraday drop of 2.64%, XRP is currently trading at $2.58, boasting a market cap of $149.9 billion and a 24-hour trading volume of $5.57 billion. Over the past week, XRP has declined 7.13%, leaving investors questioning: Why is XRP dropping today?
Why Is XRP Crashing?
Several key factors are fueling XRP’s decline, including regulatory uncertainty and the recent Bybit hack.
Regulatory Pressure: XRP vs. SEC Case Update
A major reason behind XRP’s price drop is ongoing regulatory challenges. The Ripple vs. SEC lawsuit continues to impact investor confidence, with the SEC currently reviewing Grayscale’s XRP ETF proposal.
🔹 Key Developments:
- The SEC’s decision on the XRP ETF is expected by October 18.
- Analysts predict an 81% chance of approval by 2025.
- If approved, institutional investors could flood the market, boosting XRP’s price.
However, uncertainty around a potential delay or rejection has triggered market fear. The SEC lawsuit news remains a major roadblock, while competition from other crypto ETFs, like Solana’s, adds more pressure on XRP’s future growth.
Bybit Hack Sparks Panic – XRP Price Takes a Hit
The market was further shaken by a massive security breach at Bybit on February 21, 2025. The exchange suffered a $1.4 billion loss after hackers stole 401,347 ETH from its Ethereum cold wallet.
🚨 Bybit Hack Fallout:
- Panic selling triggered a sharp drop in XRP price.
- Increased regulatory scrutiny raised concerns across the crypto space.
- Blockchain analysts linked the hack to the Lazarus Group, a North Korean-affiliated cybercrime syndicate.
As the Bybit hack news spread, investors rushed to secure their assets, adding downward pressure on XRP and the broader market.
Can XRP Reach $100?
Despite recent setbacks, many crypto analysts remain optimistic about XRP’s long-term potential. If the XRP ETF gets SEC approval, a major price surge could follow, potentially pushing XRP to new all-time highs.
What Could Drive XRP to $100?
✔ Approval of the XRP ETF, attracting institutional investors
✔ Positive resolution of the SEC lawsuit, boosting investor confidence
✔ Mainstream adoption of Ripple’s payment network
While short-term volatility persists, long-term holders see XRP as a high-potential asset. The coming months will be critical in determining whether XRP can bounce back and achieve its $100 target.
Final Thoughts
The crypto market remains highly unpredictable, and XRP’s price movements are closely tied to regulatory decisions and market sentiment. Whether you’re a trader or long-term investor, staying informed about XRP news, SEC updates, and major exchange security developments like the Bybit hack is crucial.
📌 What’s next for XRP? Will it rebound, or will further regulatory hurdles drag it down? Stay tuned for more updates!
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