XRP has experienced a drop since reaching a record high of $3.65 last week, retreating 15% to $3.09 amid a broader market decline affecting major altcoins. Analysts suggest that macroeconomic factors and market exhaustion are contributing to this pullback. Katie Talati, Director of Research at Arca, indicated that the volatility seen in crypto markets is not typical of traditional markets, leading to sharp pullbacks. The current environment is further complicated by the anticipation of potential interest rate cuts by the U.S. Federal Reserve, as lower rates typically benefit risk assets like cryptocurrencies. Despite this decline, some analysts remain optimistic about XRP, citing its appeal among retail investors and its recent legal victories. This optimism stems from the perception of XRP as a 'de-risked' investment following the resolution of long-running legal issues with the SEC. Overall, while XRP faces challenges, its strong retail support may provide opportunities for recovery.

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