XRP recently reached a new peak of $3.65 but has since fallen by 15%, trading around $3.09. This decline is part of a broader market downturn impacting most major altcoins, including Solana and Dogecoin. Analysts attribute XRP's drop to macroeconomic factors and market exhaustion after its significant run. Katie Talati from Arca suggests the market is awaiting potential interest rate cuts from the U.S. Federal Reserve, which generally benefit risk-on assets like cryptocurrencies. Despite the pullback, XRP remains popular among retail investors, especially following a favorable outcome in its legal battle with the SEC, which could position it as a more stable investment. The founder of XRP, Chris Larsen, recently transferred a substantial amount of the asset to exchanges, indicating potential selling as the price peaked. Nevertheless, analysts believe that XRP may still have the potential for growth in the future due to its favor among investors.

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