XRP has experienced a significant drop, retreating from its recent record high of $3.65, which it reached last week. The cryptocurrency, now trading around $3.09, has declined over 15%. This downturn coincides with a broader slump in the altcoin market, where several major coins like Solana and Dogecoin have also seen losses. Katie Talati, Director of Research at Arca, suggests that the macroeconomic landscape, including potential U.S. Federal Reserve interest rate cuts, contributes to the market's volatility and investor sentiment. Despite this recent pullback, analysts believe XRP may still have growth potential. Following a long-term legal battle with the SEC, many retail investors view XRP as a less risky investment, which could fuel future buying interest.

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