XRP has retraced from its recent peak of $3.65, dropping over 15% to around $3.09 amid a general market decline affecting many altcoins like Solana and Dogecoin. Analysts attribute this volatility to macroeconomic factors and market exhaustion, noting that such significant price movements are common in crypto markets. Katie Talati from Arca suggests that investors are now awaiting potential interest rate cuts from the U.S. Federal Reserve, which could enhance liquidity for risk assets like crypto. Last week’s surge to a new all-time high, marking a significant recovery after years, reflects strong investor confidence in Ripple's regulatory compliance model. Chris Larsen, the co-founder of Ripple, recently transferred a large amount of XRP to exchanges, indicating readiness to take profits. Despite the recent drop, Talati believes XRP still possesses upward potential, especially with retail interest and the resolution of a long-standing SEC lawsuit, which has made investors view it as a less risky option.

Source 🔗