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Why XRP (Ripple) Plummeted This Week


Published on 2025-02-08 01:01:15 - MSN
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  • The crypto token XRP (CRYPTO: XRP) fell this week, dropping 21.2% from last Friday's close. The move down comes as the S&P 500 lost 0.2% and the Nasdaq-100 gained 0.1% in the week's trading. XRP wasn't alone.

The article from MSN discusses the significant drop in the value of XRP, the cryptocurrency associated with Ripple, which fell by 12% in a single day and over 20% in the past week. This decline was triggered by a court ruling in the SEC v. Ripple lawsuit, where Judge Analisa Torres denied a motion by Ripple to seal certain financial documents. These documents, which include financial statements and contracts with institutional clients, are set to be made public, potentially revealing sensitive business information. The anticipation of this disclosure has led to increased selling pressure on XRP, as investors fear the impact of the revealed information on Ripple's business prospects. Additionally, the ongoing legal battle with the SEC, which accuses Ripple of conducting an unregistered securities offering, continues to cast uncertainty over XRP's future, contributing to its volatility and the recent plummet in its value.

Read the Full MSN Article at:
[ https://www.msn.com/en-au/money/savingandinvesting/why-xrp-ripple-plummeted-this-week/ar-AA1yCIL9 ]