XRP recently set a new record price of $3.65 but has since dropped over 15%, trading at about $3.09 as the wider crypto market experienced a decline. Solana and Dogecoin also faced downturns of 1.3% and 2.2%, respectively. Analysts attribute the drop to macroeconomic factors and market exhaustion. Katie Talati from Arca noted the volatility in crypto markets doesn't usually mirror traditional markets, resulting in significant pullbacks after rapid price increases. Investors are now waiting for potential interest rate cuts by the U.S. Federal Reserve, which could benefit crypto assets. Despite this retreat, Talati believes XRP could still appreciate in value, especially with retail investors showing strong interest, particularly after the coin's favorable legal resolution with the SEC. This situation positions XRP as a less risky investment, potentially enticing more buyers than before.

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