XRP has recently seen a significant drop of over 15% from its record high of $3.65 reached last week, trading at approximately $3.09. This decline reflects broader market trends, with many altcoins, including Solana and Dogecoin, also experiencing losses. Analysts, such as Katie Talati from Arca, attribute these changes to macroeconomic factors, including market exhaustion and anticipation surrounding potential interest rate cuts by the U.S. Federal Reserve. Despite this setback, XRP remains a favored investment among retail traders, particularly following the resolution of a protracted legal battle with the SEC, which has made it seem less risky to investors. The co-founder of Ripple, Chris Larsen, was noticed transferring a substantial amount of XRP to exchanges, indicating that major investors might be preparing to cash out. Nevertheless, given its popularity and the recent legal developments, analysts suggest that there is still potential for XRP to rise further in the future.

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