In the wake of a general market pullback, XRP demonstrated relative resilience, maintaining its status among top altcoins.
Overall Market Decline
This week, the digital asset market experienced a sharp pullback, resulting in a total decline of $223 million. This occurred after a period of optimism when mid-week saw $883 million in new capital. Most of the outflows were recorded on Friday, totaling over $1 billion.
XRP's Position Among Altcoins
Despite the overall downturn, XRP remained among top altcoins. The inflow into XRP was $31.3 million, an 83.4% decrease compared to the previous week’s nearly $190 million. XRP continues to rank high, positioned just behind Ethereum among the leading altcoin gainers.
Impact of Macroeconomic Factors
Market changes were also influenced by comments from the Federal Reserve and surprisingly strong U.S. economic data, which cast doubt on the timing of the next interest rate cut. Bitcoin suffered the largest outflow at $404 million, marking its worst week since April.
Overall, the current market situation indicates a shift in investor sentiment. However, XRP has shown relative resilience and remains one of the popular altcoins amid market volatility.
