XRP Price Settles After Record High Amid Market Volatility
- XRP last week reached a new peak of $3.65.
- However, the price subsequently dropped ~15% to approximately $3.09, according to CoinGecko.
Fearful investors triggered a pullback that erased XRP’s recent new highs. While the coin experienced gains over the previous week, prices subsequently retreated sharply.
The broader altcoin market experienced similar declines, with Solana falling ~1.3% and Dogecoin ~2.2% over the past day.
Speaking to Decrypt, Katie Talati, Director of Research at Arca, attributes the pullback partly to wider macroeconomic headwinds and market exhaustion from previous surges.
“We get these really violent moves higher—which you don’t necessarily see in traditional markets—and as a result, you end up having these pullbacks,” Talati observed.
Furthermore, investors are keenly awaiting signals from the U.S. Federal Reserve regarding potential interest rate cuts. Chairman Jerome Powell faces pressure from President Trump, and a Fed rate cut is seen as a potential tailwind for risk-on crypto assets.
In early trading following the record high, crypto intelligence platform Messari’s Matt Kreiser noted: “This was especially notable coming after seven years, as the token missed a top during the last bull market of 2021.”
Meanwhile, XRP’s founder, Chris Larsen, was observed moving substantial position ($140M+) onto exchanges – a potential early sign of profit-taking following the price surge.
Notwithstanding the recent correction, analyst Katie Talati points towards XRP’s continued retail investor appeal. With the recent conclusion of a long-running SEC lawsuit adding perceived stability, the outlook remains cautiously positive.
