XRP Price Drops 4.01% after Unlocking 1 Billion Tokens and Latest News on XRP ETF

There has been a lot of news about XRP these past few days, from Bitwise’s XRP ETF application, support from a major Turkish bank, to the unlocking of 1 billion XRP tokens. How does this affect the price of XRP? Here’s the explanation.

There is various news about XRP at the moment, starting from the routine token unlock at the beginning of every month, support from large Turkish banks, to updates to the XRP ETF. However, of these three pieces of news that should be encouraging, XRP price decreased.

How could this happen? Is this decline significant enough and could it affect the price of XRP in the future?

XRP News This Week: from Delaware to Dubai

Good news for XRP token holders. The reason is, at the end of last September, the second largest bank in Türkiye officially provided support for XRP. The bank is called Garanti BBVA.

Since this news dropped, various predictions regarding the price of Ripple XRP have occurred. EGRAG, a leading crypto analyst, predicts that the price of XRP could rise up to 10,000% with a possible decline of only 72%.