After reaching a record high of $3.65 last week, XRP has experienced a decline, dropping over 15% to $3.09. This retreat comes amid a broader downturn in the cryptocurrency market, affecting major altcoins including Solana and Dogecoin. Analyst Katie Talati attributed the drop to macroeconomic factors and market exhaustion, emphasizing that rapid price increases in cryptocurrencies often lead to significant pullbacks. Investors are now awaiting signals from the U.S. Federal Reserve regarding potential interest rate cuts, which could impact risk-on assets like cryptocurrency. Despite the decline, Talati noted that XRP remains popular among retail investors, especially following the resolution of a long-standing lawsuit with the SEC, which has made the asset appear less risky. This unpredictability in price movement reflects typical patterns within the cryptocurrency market amid fluctuating liquidity levels.

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