XRP has experienced a significant decline recently, falling 15% from its record high of $3.65 set last week, and is currently trading at around $3.09. This drop aligns with a broader downturn in the cryptocurrency market, where many altcoins, including Solana and Dogecoin, are also facing losses. Analysts attribute the decline to macroeconomic factors and a general exhaustion within the crypto market after a volatile surge. One key analyst suggested that current investor sentiment might wait for potential interest rate cuts by the U.S. Federal Reserve, which typically benefits crypto assets. Despite the current retracement, some believe XRP still holds potential for future gains, particularly due to the conclusion of a long-running lawsuit with the SEC, which could enhance buyer confidence in XRP as a safer investment. However, large transfers of XRP by its founder indicate that significant holders may be preparing to realize profits soon.

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