XRP has dropped from its record high of $3.65 set last week, currently trading around $3.09, which reflects a decline of over 15%. This downturn coincides with a broader market slump that has seen other major altcoins like Solana and Dogecoin also falling. Analyst Katie Talati attributes this decline to macroeconomic factors and market fatigue following aggressive price movements typical in the cryptocurrency space. Following a lengthy legal battle with the SEC, XRP's surge had previously garnered significant retail investor interest, highlighting stronger investor belief in Ripple's vision of a compliant blockchain for institutions. Despite the recent drop, Talati expressed optimism about XRP's potential to recover, as its favorability among retail investors may remain intact. The sector is also closely monitoring interest rate decisions from the U.S. Federal Reserve, as lower rates generally benefit cryptocurrency markets by increasing liquidity.

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