XRP experienced a significant drop, falling 15% from its record high of $3.65 set last week, now trading at approximately $3.09. This decline comes amid a broader market downturn affecting major altcoins such as Solana and Dogecoin. According to Arca Director of Research Katie Talati, macroeconomic factors and market exhaustion are contributing to this drop. Investors are also awaiting decisions from the U.S. Federal Reserve regarding interest rates, which influence liquidity in crypto markets. Despite this pullback, analysts believe XRP has potential for further gains, as it remains a favored choice among retail investors. Recent developments, including the conclusion of a long-term lawsuit with the SEC, could have made XRP appear as a more favorable investment option. The coin's creator, Chris Larsen, also transferred $140 million worth of XRP to exchanges, indicating that some major investors might be looking to capitalize on gains following the price surge. Overall, while current trends suggest caution, the market remains optimistic about XRP's potential recovery.

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