After a strong rally, XRP has given back its recent gains, retreating from the new all-time high it set just last week. The cryptocurrency was recently trading at $3.09, a more than 15% drop from its record of $3.65. This downturn is part of a broader market slump that has also affected other major altcoins like Solana and Dogecoin.
According to Arca Director of Research Katie Talati, this market-wide pullback is a result of macroeconomic factors and general exhaustion in the crypto space. "We get these really violent moves higher... and as a result, you end up having these pullbacks," she told.
Talati also noted that investors are now watching for a potential interest rate cut by the U.S. Federal Reserve, a move that could provide a boost to cryptocurrencies and other "risk-on" assets.
Last week's surge marked the first time in seven years that XRP reached a new all-time high, having missed the last bull run in 2021. This milestone was seen by many as a validation of Ripple's long-term vision for a "regulatory-compliant blockchain for institutions," according to Matt Kreiser, a research analyst at Messari.
However, the recent volatility was also marked by notable movements from large investors. The coin's founder, Chris Larsen, was spotted moving over $140 million of the asset to exchanges, a sign that he and other major holders might have been cashing out after the price spike.
Despite the recent dip, Talati believes XRP could still climb higher. She noted that the coin has always been popular with retail investors, and with its long-running lawsuit with the SEC now concluded, many may see it as a "de-risked" investment.
July 2025, Cryptoniteuae