Why is XRP price declining today?

XRP (XRP) expanded its downtrend in Feb. 28, down 9% in the last 24 hours to trade at $ 2.05.

What to know:

• XRP trade in a third Bearish session found that it lost a major support level at $ 2.20.

• The global capitalization of the crypto market also dropped by 6.6% to $ 2.66 trillion at the time of publication.

• Nearly $ 25.5 million worth of positions in XRP futures has been lying in the last 24 hours, with a long prevention of $ 22.2 million.

• SEC delay to drop Ripple’s case increases uncertainty in the XRP market.

SEC delays decrease in ripple case

The XRP has witnessed heavy losses since the beginning of the month, the fall of nearly 35% as members of the Ripple community remain hoping that the US Securities and Exchange Commission (SEC) will lower the multi-year suits against the Ripple.

What to know:

• Started in December 2020, the case saw a slight victory for Ripple in August 2024, when a federal judge Enhanced company $ 125 million– Less than $ 2 billion SEC demand – for unregistered security sales to institutional investors.

• The decision confirmed that XRP itself is not a security For retail sales.

• However, the SEC appealed in October 2024This difference is challenged.

• Last week, the new SEC administration has been -scale actions in its implementation against crypto companies.

• The agency recently closed several legal cases, including battles Coinsase, ConsensysRobinhood, Underpand Gemini.

🚨New: Investigations in the implementation and gestures brought about by @Secgov under @Genslerarchive is dropping like flies.@Robinhoodapp Monday@Uwup Tuesday@Gemini Wednesday

Who is Thursday?

Stay tuned. 📻 https://t.co/epi04ynibk

– Eleanor Terrett (@eleanorterrett) February 26, 2025

Despite this, the new administration did not rely on Ripple, and the appeal filed by the SEC was still pending.

Related: XRP Ledger opens institutional defi roadmap

Therefore, the case still releases a shadow on the price of XRP, increasing fuel to the current headwinds.

More than $ 22 million in the long position of XRP liquid

The fall of XRP in February. 28 is accompanied by significant fluids In the derivatives market, the bearish pressure signing.

Basic Points:

• More than $ 22.30 million worth of long XRP positions has been lying in the last 24 hours, compared with $ 3.2 million in short assignment.

• Bullish entrepreneurs are forced to sell their positions when long positions are liquid.

• The size of these liquids is glass in February. 3, at $ 74.5 million in the long position of XRP was killed, with a 36% drop in price from $ 2.78 to $ 1.76.

• XRP’s Open interest OI) also dropped 30% in the past seven days, signing a decline in business participation.

• Although the funding rate was a positive outpon on Feb. 27, it dropped from 0.0079% to 0.0032% in the last 24 hours, suggesting a Vulnerable.

XRP price has to hold above $ 2.00

Falling on the price of XRP now is part of a correction that began on January 16 after the KaMag -Kaba -child index -child -child (RSI) Painted conditions of overwhelming doubt following its running for seven years high at $ 3.40.

Basic levels to watch:

• The XRP Bulls focuses on the defense of psychological support for $ 2.00, embracing the lower border of the downward channel.

• The XRP could expand its decline in a recent range of less than $ 1.76 (formed on Feb. 3) and the psychological level at $ 1.50, where 200-day SMA is currently seating.

• Upside down, the KaMag -Kaba -child index -child -child In the day -to -day chart reads 29, indicating a potential recovery over the next few days.

• The bullish case for Altcoin hinges at the XRP price wraps $ 2.20 resistance to support.

• A near upper level can provide the way for a prolonged recovery towards $ 2.40.

This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.