XRP has retraced sharply after hitting a new record of $3.65, recently trading at $3.09—a drop of over 15%. This decline is reflective of broader market downturns, with many altcoins like Solana and Dogecoin also losing value. Analysts attribute XRP's pullback to macroeconomic factors and market exhaustion, highlighting investors' anticipation of potential interest rate cuts by the Federal Reserve. Katie Talati, Director of Research at Arca, noted that the volatility observed is characteristic of crypto markets, which experience sharper movements than traditional markets. XRP's recent surge follows the resolution of a long-term lawsuit with the SEC, which may encourage investors to consider it a less risky asset. Despite the recent drop, some believe XRP still has the potential for further gains, particularly given its popularity among retail investors and the ongoing favorable sentiment post-lawsuit.

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