XRP has experienced a significant drop, erasing gains after reaching a record of $3.65 last week, currently trading around $3.09, marking a decline of over 15%. This downturn coincides with a broader market decline affecting major altcoins like Solana and Dogecoin. Analysts attribute this drop to macroeconomic factors and general fatigue in the crypto market, particularly as investors await decisions from the U.S. Federal Reserve regarding interest rates. Furthermore, despite the recent sell-offs, some experts remain optimistic about XRP's future, highlighting that the end of a protracted SEC lawsuit could make XRP more appealing to retail investors. The coin's recent high underscores the belief in Ripple's regulatory-compliant vision for blockchain, with its founder moving substantial amounts of XRP to exchanges, suggesting readiness to capitalize on the surge. This volatility illustrates the crypto market's unique dynamics compared to traditional markets.

Source 🔗