Ripple's XRP is facing downward pressure, with price declining in the past day and week. According to CoinMarketCap, the token dropped 3% and 12% in the daily and weekly charts, respectively. XRP's price decline reflects a broader price correction in the crypto space.

Bitcoin is leading the bear market, having dropped 3% in the past day and 13% in the past week. The second largest cryptocurrency, Ethereum, has also been facing losses of nearly 20% in the past week, currently changing hands for $3,298.

Defying Bearish Sentiment

Despite the negative sentiment facing Ripple's XRP, its leadership remains optimistic about a price surge, as seen in November. A cryptic tweet by Ripple Ripple Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may Read this Term's Chief Technology Officer, David Schwartz, caused speculation on social media X.