XRP has recently experienced a significant decline after reaching an all-time high of $3.65 last week. Currently traded at $3.09, this represents a drop of over 15%. The downturn aligns with a general slump in the cryptocurrency market, impacting other major altcoins such as Solana and Dogecoin. Analyst Katie Talati pointed out that macroeconomic factors and market exhaustion contribute to this decline, noting violent price movements typical in crypto markets. Investors are now closely monitoring potential interest rate cuts from the U.S. Federal Reserve, as low rates generally enhance liquidity and benefit cryptocurrencies. Despite the recent drop, Talati believes XRP may still have bullish potential, especially following the resolution of a long-standing SEC lawsuit, leading to its perception as a de-risked investment among retail investors. Furthermore, XRP's historic price peak and continued interest suggest that it remains a favored choice for many investors in the crypto space.

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