XRP has dropped significantly after recently setting a new all-time record of $3.65, now trading around $3.09, a decline of over 15%. This drop coincides with a broader market downturn affecting most altcoins, including Solana and Dogecoin. Analysts suggest that the sell-off may be attributed to macroeconomic factors and general market volatility, with investors eyeing potential interest rate cuts by the U.S. Federal Reserve that could influence crypto prices. XRP's recent high represents a notable achievement, considering it has been seven years since its last peak. Experts view this surge as a validation of Ripple's efforts toward creating a regulatory-compliant blockchain for institutions. However, some large investors, including XRP's founder Chris Larsen, have indicated readiness to cash out, possibly influencing market dynamics. Despite the current pullback, analysts believe XRP still holds potential for growth, especially among retail investors now viewing it as a less risky investment after the conclusion of a protracted lawsuit with the SEC.

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