XRP has recently experienced a significant drop, erasing the gains it made after setting a new record of $3.65 last week. The digital coin is now trading at approximately $3.09, marking a decline of over 15%. This downturn is attributed to broader market trends affecting altcoins, including Solana and Dogecoin. Experts suggest that macroeconomic conditions and investor fatigue in the crypto space are the main reasons behind this correction. The anticipation of interest rate cuts by the U.S. Federal Reserve, amidst high liquidity levels in the market, has left investors cautious. Despite the pullback, analysts posit that XRP may still climb higher, especially as it remains popular with retail investors. The resolution of a lengthy SEC lawsuit has also boosted confidence in the coin, being perceived as a 'de-risked' investment.

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