XRP has seen a significant drop after reaching a record of $3.65 last week, falling 15% to $3.09 as the overall cryptocurrency market faced a downturn. This decline reflects trends in the wider altcoin market, with other major coins like Solana and Dogecoin also experiencing losses in the past 24 hours. Katie Talati, Director of Research at Arca, attributes this drop to macroeconomic factors and investor exhaustion within the booming crypto space. With indications that the U.S. Federal Reserve might cut interest rates, there is potential for recovery, as lower interest rates typically boost liquidity for riskier assets like cryptocurrencies. Despite the recent decline, Talati suggests that XRP remains popular among retail investors, particularly following the resolution of a long-standing lawsuit with the SEC, which now positions XRP as a potentially de-risked investment. Analysts believe that XRP's strong institutional vision has solidified its position and could drive future price momentum.

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