XRP Erases Gains Following New Record—Does It Still Have Room to Run?
Main Idea
XRP's price surged to a new record of $3.65 last week but has since dropped by 15%, with market analysts attributing the decline to macroeconomic factors and crypto market exhaustion.
Key Points
1. XRP reached a new all-time high of $3.65 last Friday but has since fallen 15% to $3.09.
2. Solana and Dogecoin also saw declines of 1.3% and 2.2% over the past 24 hours.
3. Arca Director of Research Katie Talati cited macroeconomic factors and crypto market exhaustion as reasons for the drop.
4. XRP's recent high marks its first record in seven years, missing the 2021 bull market peak.
5. Analysts view XRP's performance as validation of Ripple's regulatory-compliant blockchain vision.
Description
The third biggest digital coin has dropped since setting a record last week.
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