XRP experienced a decline following the approval of the REX Osprey XRP ETF, with $2.6 emerging as a critical support level. The dip is attributed to short-term profit-taking after a significant 90-day rally, as investors 'sell the news'. Despite this pullback, the long-term bullish outlook for XRP remains strong, bolstered by increasing institutional adoption and regulatory clarity. Analysts view the current dip as a potential buying opportunity, although they caution that further volatility may occur.