The XRP price has seen a significant drop, despite positive news for Ripple. Companies have applied for a spot XRP ETF, which is likely to be approved by the SEC, leading to more inflows. Additionally, the XRP Ledger network has seen growth in developer interest. There are also increasing chances that the SEC will end its litigation against Ripple Labs. However, the XRP price has fallen due to the overall softness in the crypto industry, fear in the market, and technical factors such as the formation of a head and shoulders chart pattern. The article explores whether the XRP price will recover after hitting support at $1.96.



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