What’s causing Ripple (available on Binance) (XRP), Stellar (XLM), and NEO to drop?

Ripple (available on Binance) (XRP)

Ripple (available on Binance) is currently selling for $0.751391, which puts the coin down 4.10% in the past 24 hours.

Source: CoinMarketCapXRP dipped several hours ago, and from here it looks like Ripple (available on Binance) may dip further.

Yesterday, it was announced that Ripple (available on Binance) would be going to New York court against R3, a consortium of over 70 companies focused on blockchain technology in the financial world. Late last year, R3 sued Ripple (available on Binance), claiming that Ripple (available on Binance) violated a previous purchase agreement for XRP. Although Ripple (available on Binance) filed a counterclaim, this appeal has just been denied by the California state court.

This means that the fate of the lawsuit now rests solely in the New York court’s hands. Ripple (available on Binance) has claimed that bringing the case to New York will cause Ripple (available on Binance) “irreparable injury.”

Could this decline be the start of that injury?