XRP, the third-largest cryptocurrency, experienced a significant decline after reaching a record high of $3.65 last week, dropping 15% to around $3.09. This decrease is part of a larger market downturn affecting various altcoins, including Solana and Dogecoin. Analysts suggest that macroeconomic factors and general exhaustion in the crypto market are contributing to this volatility. Katie Talati from Arca noted that such sharp price movements are common in crypto markets, unlike traditional markets. Investors are also awaiting potential interest rate cuts from the U.S. Federal Reserve, which could positively impact crypto investments. Despite the recent drop, the outlook remains optimistic, as XRP may attract retail investors due to the resolution of its long-standing lawsuit with the SEC, making it a potentially 'de-risked' asset. The coin’s recent performance signals confidence in Ripple's vision for an institutional blockchain that is compliant with regulations.

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