XRP has witnessed a more than 3% price decline in the last 24 hours as volatility prevails on the cryptocurrency market. This dip has sparked concerns about XRP’s ability to reclaim the $2.50 price mark, a level it has not reached in the last 30 days. XRP price struggles amid weak market sentiment According to CoinMarketCap data, XRP is changing hands at $2.16, representing a 3.12% decrease in the last 24 hours. Investors have also pulled back as trading volume has dropped by a significant 36.42% to $3.3 billion within the same time frame. Despite XRP’s resilience in finding support above the $2 level for a long time, the price has remained stagnant below $2.50. A significant shift in market dynamics is needed for XRP to break out of this $2-$2.47 zone. Notably, altcoins tend to soar along with Bitcoin, the leading digital currency. At the moment, Bitcoin is also experiencing bearish fluctuations. The coin has not been able to retest and stabilize above the $110,000 level after it hit an all-time high of $111,970 on May 22, 2025. XRP is likely to rise above $2.50 if the price of Bitcoin soars in the broader cryptocurrency market. Additionally, general market sentiment is down, with trading volume at an 8.6% decline. This indicates that investors are cautious about crypto investments, possibly due to ongoing tensions in the Middle East. Ripple vs. SEC lawsuit adds pressure Meanwhile, investors are also monitoring developments in the Ripple versus Securities and Exchange Commission (SEC) lawsuit. The lingering settlement took a twist recently, when both parties filed a joint status report at the United States Court of Appeals for the Second Circuit. According to the filing, the parties in the lawsuit have requested the court to suspend its decision on the appeals. XRP holders, potential investors and the broader crypto community are monitoring developments on the resolution path. This might slow traders' moves to invest and potentially drive up prices.