Ripple's XRP token has seen a significant downturn, losing over 10% of its value in just 24 hours. This price drop follows the United States Securities and Exchange Commission (SEC)'s recent filing of a notice of appeal on October 2, which challenges the previous court ruling in favor of Ripple.
As bearish sentiment continues to build against the altcoin, XRP is approaching its two-month low of $0.47. This analysis aims to explore the reasons behind this potential dip.
