XRP has experienced a significant drop, erasing gains after hitting a new record of $3.65 last week. Following this high, the cryptocurrency decreased by over 15%, trading at approximately $3.09. This decline aligns with a broader market trend affecting major altcoins, including Solana and Dogecoin. Analysts, such as Katie Talati from Arca, attribute this drop to macroeconomic factors and market fatigue, suggesting that aggressive movements in the market lead to pullbacks. Additionally, investors are closely monitoring potential Federal Reserve interest rate cuts, as lower rates generally enhance the attractiveness of risk-on assets like cryptocurrencies. Despite recent volatility, some experts believe XRP still has potential for growth, particularly following the resolution of a long-standing lawsuit with the SEC, enhancing its appeal to retail investors. This recent performance and the underlying fundamentals suggest that XRP could be viewed as a de-risked investment opportunity.

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