XRP recently hit a new record of $3.65 but has since dropped 15% to around $3.09, reflecting a broader downturn in the cryptocurrency market where many altcoins also fell. This decline comes after a significant rally, and factors such as macroeconomic conditions and market exhaustion are identified as reasons for the retreat. Analysts suggest that investors are awaiting potential interest rate cuts from the U.S. Federal Reserve, as low rates generally benefit riskier assets like cryptocurrencies. XRP's latest high marks a return after a long absence from peaks seen in previous market cycles, and the resolution of a lengthy lawsuit with the SEC has encouraged optimism among retail investors. Despite the recent drop, industry experts believe XRP may still have potential for further gains, maintaining interest among retail investors due to its perceived recovery from regulatory risk.

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