XRP has recently experienced a significant decline, dropping over 15% from its record of $3.65 set last week. Following this peak, the coin was trading around $3.09 as market trends shifted, impacting other major altcoins like Solana and Dogecoin. Analysts attribute this downturn to macroeconomic factors and a general crypto market exhaustion. Katie Talati from Arca explained that sharp market movements in crypto often lead to pullbacks as investors anticipate potential interest rate cuts from the U.S. Federal Reserve. This decline occurred despite an increase in the U.S. money supply, which typically correlates positively with asset prices. The recent all-time high for XRP came after a long absence from such peaks in the previous bull market, signaling investor confidence in Ripple's vision. Despite the current retreat, some analysts believe XRP remains a favored asset among retail investors.

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