{"id":41064,"date":"2025-02-02T18:37:46","date_gmt":"2025-02-02T18:37:46","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=41064"},"modified":"2025-02-02T18:37:46","modified_gmt":"2025-02-02T18:37:46","slug":"ripple-xrp-plummets-to-3-week-low-despite-strong-endorsement-from-sbi-ceo","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=41064","title":{"rendered":"Ripple (XRP) Plummets to 3-Week Low Despite Strong Endorsement From SBI CEO"},"content":{"rendered":"<p><strong>TL:DR;<\/strong><\/p>\n<p>The overall market crash that started late last night only worsened in the past few hours, and Ripple\u2019s native token is among the poorest performers, with a massive 15% daily drop.<br \/>\nThis comes despite a highly positive endorsement from SBI\u2019s CEO, who predicted that XRP\u2019s price could shoot up in the next few weeks.<\/p>\n<p><a href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/XRPUSD-2.png\"><\/a>XRPUSD. Source: TradingView<\/p>\n<p>It\u2019s worth noting that XRP\u2019s 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 following <a href=\"https:\/\/cryptopotato.com\/crypto-markets-shed-150b-as-trumps-trade-war-hits-china-canada-mexico-weekend-watch\/\">President Trump\u2019s tariffs<\/a> against China, Canada, and Mexico.<\/p>\n<p>Bitcoin, for instance, <a href=\"https:\/\/cryptopotato.com\/mass-liquidation-250000-traders-hit-as-bitcoin-falls-below-100k\/\">plunged<\/a> below $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.<\/p>\n<p>XRP stood at $3.07 yesterday, as <a href=\"https:\/\/cryptopotato.com\/why-did-ripples-xrp-price-tumble-by-8-daily\/\">reported<\/a>, but slumped beneath the $3 mark earlier today and kept dropping to $2.53 (on Bitstamp). This intraday low became the asset\u2019s lowest valuation since January 14.<\/p>\n<p>What\u2019s particularly compelling in XRP\u2019s case is the fact that this crash came just hours after Crypto Twitter (X) started sharing a video of SBI\u2019s CEO, Yoshitaka Kitao, who <a href=\"https:\/\/x.com\/RippleXrpie\/status\/1886096236366713170\" target=\"_blank\" rel=\"noopener\">noted<\/a> that he anticipates the case between Ripple and the SEC to be resolved in a few weeks.<\/p>\n<p>Moreover, he said he expects XRP\u2019s price to \u201csoar significantly\u201d if the court determines that the asset is not a security \u2013 which has been the main dispute between the company behind the token and the SEC for over four years now.<\/p>\n<p>The crypto market is typically quite susceptible to such big endorsements from prominent figures, but today\u2019s politically driven crash seems to be an exception. This only proves a recent <a href=\"https:\/\/x.com\/RippleXrpie\/status\/1886096236366713170\" target=\"_blank\" rel=\"noopener\">report<\/a> that the crypto industry reacts more violently to FUD than actual positive news.<\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/ripple-xrp-plummets-to-3-week-low-despite-strong-endorsement-from-sbi-ceo\/\">Ripple (XRP) Plummets to 3-Week Low Despite Strong Endorsement From SBI CEO<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\">CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>TL:DR; The overall market crash that started late last night only worsened in the past few hours, and Ripple\u2019s native token is among the poorest performers, with a massive 15% daily drop. This comes despite a highly positive endorsement from SBI\u2019s CEO, who predicted that XRP\u2019s price could shoot up in the next few weeks. [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":41065,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-41064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/41064"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41064"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/41064\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/41065"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}