XRP declines 4% following rejection at $2.88 as ETF speculation increases

On September 5, XRP dropped 4% from $2.88 to $2.84 after reaching a peak of $2.89, highlighting significant institutional selling pressure. Trading volume surged to 227.75 million, nearly four times the average, reflecting high selling activity.

Six asset managers applied for spot XRP ETFs, with SEC decisions expected by October. Ripple’s legal settlement has boosted market confidence, estimating a potential 87% probability for ETF approval, which may trigger further price movements.