XRP recently set a new record at $3.65 but has since dropped approximately 15% to around $3.09. This decline reflects a broader market trend affecting many altcoins, including Solana and Dogecoin, which also saw declines. Analyst Katie Talati from Arca attributes this volatility to macroeconomic factors and exhaustion within the crypto market. Investors are keenly observing the U.S. Federal Reserve's stance on interest rate cuts, as lower rates typically benefit cryptocurrencies by increasing liquidity. Despite the recent pullback, Talati notes XRP's appeal as a favorite among retail investors, especially after a long-standing SEC lawsuit concluded, potentially portraying it as a less risky investment. The token's recent spike after several years suggests a renewed confidence in Ripple’s vision for a compliant blockchain aimed at institutions, signifying validation of their efforts.

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