TL:DR;<\/strong><\/p>\n <\/a><\/p>\n Recall the price developments around XRP that took place earlier this week. The asset stood at around $2.35 but exploded<\/a> on Monday evening to almost $2.6 after the company behind it announced that its long-anticipated stablecoin would be launched on the next day \u2013 December 17.<\/p>\n The positive movements continued on the launch date<\/a> as XRP skyrocketed to a multi-week peak of $2.73 (on Bitstamp and other exchanges).<\/p>\n However, Ripple\u2019s cross-border token failed to maintain its momentum despite multiple highly bullish price predictions.<\/a><\/p>\n Just the opposite, it started to retrace and dropped to $2.5 earlier today before the market-wide correction<\/a> after the Fed\u2019s latest rate cut pushed it south violently to a 6-day low of $2.23.<\/p>\n Although this plunge could be attributed to the overall crypto market drop, XRP\u2019s retracement is more painful than most, being down by 11% on a 24-hour scale and by 15% on a 36-hour one.<\/p>\n As such, this could go under the \u2018sell-the-news\u2019 category, given the fact that XRP jumped ahead of the RLUSD launch, and its price has tumbled after the new token actually went live for trading.<\/p>\n Additionally, the situation around a potential XRP ETF in the States doesn\u2019t seem too bright, at least according to experts on the matter. As reported<\/a> earlier, Bloomberg\u2019s Eric Balchunas warned that Ripple might be behind other projects that could be greenlighted first, such as Litecoin and Hedera.<\/p>\n The ETF expert predicted that such a wait could be related to Ripple\u2019s ongoing legal tussle with the US Securities and Exchange Commission even though there will be a seismic shift in the agency\u2019s leadership in the next few months.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n\n
![\"XRPUSD.](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/11\/XRP_CB-55.jpg\")
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