XRP Loses Nearly 8% Against Bitcoin as Crypto Market Crash Deepens

Summary

• XRP dropped 12.4% over seven days, underperforming Bitcoin, Ethereum, and Solana as broader cryptocurrency market losses affected major digital assets.
• Nvidia shares reportedly fell 3.4% amid allegations involving CEO Jensen Huang, adding uncertainty to technology markets as cryptocurrency prices declined.
• XRP Ledger validator Vet defended XRP against criticism, arguing that broader market developments can affect cryptocurrency prices beyond individual projects.

XRP has recorded heavier losses than Bitcoin during the cryptocurrency market downturn, widening the performance gap between the two digital assets. According to CoinGecko data, XRP fell 4.9% over 24 hours to approximately $1.10, bringing its weekly decline to 12.4%.

Bitcoin declined 1.4% daily and 4.9% weekly, while XRP lost nearly 8% against Bitcoin, underperforming Ethereum and Solana, which fell 7.4% and 8.6%, respectively.

XRP Underperforms Bitcoin as Nvidia Developments Add Pressure to Crypto Markets

Bitcoin briefly traded near $73,761 on Sunday before recovering some losses as selling pressure affected major cryptocurrencies. Meanwhile, reports concerning Nvidia chief executive Jensen Huang introduced additional uncertainty into technology markets.

The reports involved allegations about Huang’s personal conduct and alleged intelligence connections. Nvidia’s board reportedly opened an independent investigation into whether its chief executive had faced a foreign intelligence operation.

The company maintained that it had no reason to believe corporate secrets or national security information were compromised. Nvidia shares reportedly fell approximately 3.4% in after-hours trading.

XRP Ledger Validator Defends Cryptocurrency Amid Market Decline

XRP Ledger validator Vet challenged criticism suggesting XRP’s recent losses reflected problems unique to the digital asset. According to Vet’s X post, unrelated events affecting wider markets can undermine cryptocurrency investment expectations despite individual project developments.

The validator sarcastically referenced the Nvidia allegations while responding to arguments about XRP’s weak market performance. Vet also pointed toward substantial declines in Ethereum and Solana, emphasizing that selling pressure extended beyond XRP.

Nevertheless, weekly comparisons showed XRP performing worse than both assets and significantly trailing Bitcoin. The latest price comparisons offer another measure of XRP’s relative weakness. Broader market declines can affect cryptocurrencies unevenly, with XRP bearing greater relative losses than its peers across the cryptocurrency sector.