The XRP price attracted attention today by falling more than 15 percent after the last upward attempt. This decline has sparked controversy in the digital assets space due to the negative momentum in the overall crypto market. This situation, which occurred at a time when the “Uptober” saga was expected in the market, increased speculation in the sector.
Developments in the SEC Case
Ripple 
$0.511683 v. SEC has become one of the important legal battles followed closely in the crypto industry. In the latest development, the US SEC announced that it has filed some objections to Judge Torres’ decision ahead of the October 7 Decision Date. Ripple CLO Stuart Alderoty wrote that they, too, may appeal.
“The company is considering a cross-appeal in the case.”
This latest appeal had a negative impact on market sentiment and suggested that the legal battle would prolong in the coming days. Investors are awaiting more clarity on the future of the Ripple-SEC war.
Another reason for the decline in XRP price could be the weakening of risk appetite in the overall crypto market. Global crypto market cap declines nearly 4% 
$60,521Ethereum 
$2,336 and other major altcoins declined.
This selloff could be due to macroeconomic factors such as Bitcoin ETF outflows and recent US PMI data showing the economy is shrinking.
Market Expectations and the Future
FED Chairman Jerome Powell’s signals of confidence in the cooling of inflation supported the previous positive sentiment in the market. However, the SEC’s appeal decision has cast a shadow over this optimism. XRP prices fell more than 15 percent today to $0.5106. Transaction volume increased by approximately 16%, reaching $3.21 billion. The decline in prices as volume increases confirms the strength of the selling wave.
According to CoinGlass data, XRP Futures Open Interest dropped by more than 14% to $712 million. This shows that investors are reducing their interest in crypto as legal uncertainty continues.
This fluctuation in the crypto market makes it important for investors to carefully follow market trends and legal processes. While market participants await the outcome of the legal battle between Ripple and the SEC, general economic indicators may also have an impact on the future of crypto assets.
It seems that the FED’s possible monetary policy moves and economic data will continue to shape market movements in the short term.
Conclusion
The decline in XRP price was driven by a combination of the SEC lawsuit and negativity in the overall crypto market. Investors act by taking into account legal uncertainty and economic indicators. Future developments will determine the course of XRP and the general crypto market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
