XRP has lost 20.7% of its early January gains, trading at $1.91 after peaking at $2.41 on January 6. The cryptocurrency initially surged by 31% in the first week of the year, driven by strong inflows into crypto ETPs and renewed investor interest. However, macroeconomic uncertainties and market volatility have since dampened its momentum. Despite the recent downturn, Standard Chartered projects XRP could reach $8 by year-end, suggesting potential for recovery. The broader crypto market's trajectory, influenced by macroeconomic factors and regulatory developments, will be crucial in shaping XRP's future performance.