According to U.Today, during the current downturn in the crypto market, the token XRP related to Ripple has performed quite poorly compared to Bitcoin.
According to the data from CoinGecko, XRP has fallen by 4.9% in the past 24 hours. As of press time, the price of XRP is approximately $1.10.
Its cumulative decline over the past week has expanded to 12.4%.
In contrast, Bitcoin has only fallen by 1.4% in the past 24 hours and by 4.9% in the past 7 days.
This means that in just the past 7 days, XRP has lost nearly 8% of its value relative to Bitcoin.
XRP also performed worse compared to Ethereum, which fell by 7.4% in the past week.
Solana has fallen by 8.6% in the past 7 days.
NVIDIA Controversy Hits the Crypto Market
Reports indicate that recent selling pressure in the crypto market has been further exacerbated by news regarding NVIDIA CEO Jensen Huang.
Reports say that Jensen Huang recently admitted to having an affair during his marriage; previously, there were reports that he was involved with a businesswoman who was alleged by American intelligence agencies to be connected to Chinese espionage activities.
NVIDIA's board of directors has launched an independent investigation to determine whether the company's CEO has become a target of foreign intelligence activities.
However, NVIDIA emphasizes that there is no reason to believe that national security or company secrets have been compromised.
Affected by this news, investor sentiment came under pressure, and NVIDIA's stock price fell by about 3.4% in after-hours trading.
Reports say that this NVIDIA incident has exacerbated market concerns about the sustainability of the artificial intelligence boom.
Bitcoin fell to around $73,761 on Sunday before rebounding later on.
XRP supporters still persevere
Despite the poor performance of XRP, some well-known figures in the XRP community still criticized those who claimed that this sharp decline reflects inherent problems with the cryptocurrency itself.
Well-known XRP Ledger verifier Vet made a sarcastic comment regarding the NVIDIA controversy.
He wrote on X: “I forgot to mention it, your XRP investment logic cannot prevent that NVIDIA guy from going astray.”
Vet also pointed out that Ethereum and Solana also suffered significant declines.
