XRP plunged more than 15% after reaching a historic peak of $3.65, currently trading near $3.09. The pullback forms part of a broader cryptocurrency market correction affecting major altcoins.
Solana and Dogecoin experienced losses of 1.3% and 2.2% respectively over the past day, reflecting heightened volatility across digital asset markets. Analysts attribute this instability to macroeconomic uncertainties and the cyclical nature of cryptocurrency investments, with particular attention on U.S. Federal Reserve policy developments.
The recent record price underscores strengthened investor confidence catalyzed by Ripple’s ongoing regulatory advancements against the SEC. Market observers noted significant whale activity after the peak as Ripple co-founder Chris Larsen transferred over $140 million worth of XRP to exchanges.