XRP recently experienced a sharp decline, dropping 15% from its record high of $3.65 last week, now trading around $3.09. This retreat is part of a broader market downturn impacting several major altcoins like Solana and Dogecoin. Analysts attribute the drop to macroeconomic factors and potential market exhaustion, particularly in response to interest rate discussions by the U.S. Federal Reserve. Following the recent conclusion of a prolonged SEC lawsuit, some investors see XRP as a less risky asset, potentially leading to renewed buying interest. Despite the setbacks, analysts believe that retail sentiment remains strong, suggesting XRP might still have the capacity to rise further as larger investors reassess their positions.
Value-packed daily reports covering news, markets, on-chain data, fundraising, governance, and more – sent to your inbox. Saving you 1 hour of research daily.
