XRP Erases Gains Following New Record—Does It Still Have Room to Run?
Summary
XRP's price dropped over 15% to $3.09 after reaching a record high of $3.65, amid a broader decline in major altcoins like Solana and Dogecoin. The decline is attributed to macroeconomic factors and market exhaustion. Investors are awaiting potential interest rate cuts by the U.S. Federal Reserve, which could benefit crypto markets. XRP's recent high marks a significant milestone since it missed the 2021 bull market peak, reflecting confidence in Ripple's regulatory-compliant blockchain vision. Founder Chris Larsen moved $140 million of XRP to exchanges, indicating potential sell-offs. Despite this, XRP remains popular with retail investors, especially after resolving a lawsuit with the SEC.
