TL:DR;

• XRP was the top performer from the larger-cap alts until yesterday afternoon, but its price has tumbled hard by double digits since then.
• Could that be related only to the market-wide retracement, or is there more to the story, such as another ‘sell-the-news’ event?

Recall the price developments around XRP that took place earlier this week. The asset stood at around $2.35 but exploded 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 – December 17.

The positive movements continued on the launch date as XRP skyrocketed to a multi-week peak of $2.73 (on Bitstamp and other exchanges).

However, Ripple’s cross-border token failed to maintain its momentum despite multiple highly bullish price predictions.

Just the opposite, it started to retrace and dropped to $2.5 earlier today before the market-wide correction after the Fed’s latest rate cut pushed it south violently to a 6-day low of $2.23.

Although this plunge could be attributed to the overall crypto market drop, XRP’s retracement is more painful than most, being down by 11% on a 24-hour scale and by 15% on a 36-hour one.

As such, this could go under the ‘sell-the-news’ 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.

Additionally, the situation around a potential XRP ETF in the States doesn’t seem too bright, at least according to e