XRP recently dropped significantly after reaching a new record of $3.65 last week, marking a decline of over 15% as it traded at around $3.09. This pullback is attributed to broader market trends, with other cryptocurrencies like Solana and Dogecoin also experiencing declines. Analysts suggest that macroeconomic factors and investor fatigue in the crypto market are leading to such volatile movements. Katie Talati, Arca's Director of Research, highlighted the impact of potential U.S. Federal Reserve interest rate cuts on crypto markets, emphasizing that low rates tend to encourage investment in riskier assets. Despite the recent drop, there is still optimism for XRP, particularly following a long-awaited resolution of a lawsuit with the SEC, which could make it a more attractive investment. The coin's recent performance reflects growing support from retail investors who believe in Ripple's framework for a regulated blockchain.

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