XRP recently achieved a record price of $3.65 before experiencing a significant decline of about 15%, settling at around $3.09. This downturn occurred amid a broader slump in the crypto market, affecting major altcoins like Solana and Dogecoin. Analysts attribute the drop to macroeconomic factors and market exhaustion. Katie Talati, Director of Research at Arca, mentioned that such rapid price increases in crypto can lead to equally swift pullbacks. Investors are currently watching for potential interest rate cuts by the U.S. Federal Reserve, as lower rates generally benefit risk-on assets like cryptocurrencies. Last week’s record high for XRP follows a lengthy legal battle with the SEC, leading some analysts to suggest its recent performance validates Ripple’s vision for a compliant blockchain. Despite the recent decline, there are indications that XRP may still rise, particularly due to sustained interest from retail investors, who perceive it as a less risky investment post-litigation.

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