XRP recently hit a new high of $3.65 but has since dropped over 15% to approximately $3.09 amidst a wider market decline affecting major altcoins like Solana and Dogecoin. Analysts attribute this drop to macroeconomic factors and an overall exhaustion in the crypto market, exacerbated by the anticipation of potential interest rate cuts by the U.S. Federal Reserve. Despite this setback, experts suggest XRP may still have upward potential due to its appeal among retail investors, especially following the resolution of a long-standing lawsuit with the SEC. This clarity presents XRP as a more secure investment, possibly leading to renewed buying interest. The coin's recent high underscores investor confidence in Ripple’s vision for a compliant blockchain for institutions, bolstered by significant trade movements from major holders.

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