XRP has seen a significant drop after recently hitting a record high of $3.65, falling by over 15% to around $3.09. This decrease is attributed to broader market trends, as other major altcoins like Solana and Dogecoin also experienced declines. Analysts suggest that macroeconomic factors and market exhaustion contributed to this volatility. Katie Talati, Director of Research at Arca, noted the extreme price movements in crypto compared to traditional markets and emphasized that anticipation over U.S. Federal Reserve interest rate cuts is influencing investor behavior. Despite this pullback, some analysts believe XRP still holds potential for growth due to its popularity among retail investors and the recent favorable settlement of a lawsuit with the SEC. This could render the coin a lower-risk investment option. XRP's latest high is seen as a validation of Ripple's objectives to establish a regulatory-compliant blockchain for institutions, highlighting the ongoing interest in its development and future prospects.

Source 🔗