XRP ($XRP) continues to face instability, sliding dangerously close to the $0.50 mark and eliciting concern among investors.

Confidence in $XRP is waning, meaning many are opting to seek out stable alternatives with clearer price prospects.

Among the emerging options, Launchpad XYZ ($LPX), a groundbreaking Web3 platform, is drawing attention as a promising and innovative solution, which some believe could outshine $XRP in the coming months.

Uncertainty & Technical Hurdles Threaten Further $XRP Decline

At the time of writing, the $XRP price is hovering around $0.517, a 44% drop from July’s peak.

A colossal sell-off has occurred since Ripple Labs’ lawsuit victory, with many $XRP holders opting to cash in while the token’s value was high rather than wait for a sustained bull run.

This sell-off has led to a significant shift in $XRP’s dynamics, creating uncertainty and volatility challenging both speculators and long-term holders.

Things don’t appear to be improving from a technical perspective, with $XRP’s price now trading sideways after Thursday’s crash.

Some in the crypto community believe this range-bound trading could precipitate another drop, fueling concerns over $XRP’s resilience.

Moreover, with the Crypto Fear & Greed Index at its lowest level since the collapse of Silicon Valley Bank in March, the negative market sentiment is further compounding $XRP’s precarious position.

SEC Appeal & Hawkish Fed Weigh on $XRP Price

The recent decline in $XRP’s value can be attributed to the ongoing legal turmoil surrounding Ripple Labs.

As reported last week, Judge Analisa Torres granted a request from the SEC to file a motion for an interlocutory appeal against Ripple Labs – despite the latter’s opposition.

This decision has led to renewed uncertainty in the market, contributing to $XRP’s sell-off.

The possibility of a protracted legal process has affected investor confidence, much like it did in the years before Ripple Labs’ recent court victory.

$XRP’s woes were compounded further when the minutes from the US Federal Reserve’s most recent FOMC meeting were released last week.

These minutes highlighted the Fed’s ov