XRP experienced a sharp decline after achieving a new record price of $3.65 last week, falling over 15% to about $3.09. This drop coincided with a broader downturn in the cryptocurrency market, where many altcoins, including Solana and Dogecoin, faced losses. Analysts suggest that macroeconomic conditions and market fatigue contributed to this decline. Katie Talati, a research director, indicated that violent price movements are common in crypto, leading to significant pullbacks. Investors are now looking ahead to potential interest rate cuts by the U.S. Federal Reserve, as lower rates tend to benefit riskier assets like cryptocurrencies. Despite the recent fall, some analysts remain optimistic about XRP, viewing it as a favorite among retail investors. The end of a lengthy lawsuit with the SEC has also positioned XRP as a less risky investment, suggesting it could still rise in value despite current market challenges.

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