XRP has retraced from its recent high of $3.65, dropping 15% to around $3.09 amid a broader decline in the altcoin market, as Solana and Dogecoin showed similar downturns. Analysts attribute this drop to macroeconomic conditions and overall market fatigue, with investor uncertainty about potential U.S. Federal Reserve interest rate cuts adding to the volatility. Historically, XRP's recent peak comes after a long absence from highs during previous market cycles, suggesting renewed confidence among investors based on Ripple's regulatory framework and the recent conclusion of a significant legal battle with the SEC. Despite recent losses, some analysts believe XRP still has potential for growth given its popularity among retail investors and the perception of decreased risk following legal developments. Overall, the cryptocurrency market remains under pressure despite rising liquidity in the global economy, which is typically known to boost asset values.

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