XRP, the third-largest cryptocurrency, experienced a significant drop after reaching a new high of $3.65 last week, falling over 15% to trade at around $3.09. This decline is part of a broader market retreat alongside major altcoins such as Solana and Dogecoin, reflecting macroeconomic factors and market exhaustion, as explained by Arca's Director of Research Katie Talati. Investors are particularly cautious in light of upcoming decisions by the U.S. Federal Reserve regarding interest rates, which historically benefit crypto and other risk-on assets when lowered. Despite the recent pullback, experts believe XRP may still have potential for further gains, bolstered by its popularity among retail investors and a perception of being a 'de-risked' investment after the end of a lawsuit with the SEC. The coin's new all-time high highlights investor confidence in Ripple's vision for a compliant blockchain for institutional use, as noted by analysts who view the surge as a validation of Ripple's long-term efforts.

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