XRP has dropped in price over the past week - a bad sign for investors. Will this recent decline limit the competition of the Token with top Tokens like BTC [BTC] and ETH [ETH]?

What influences XRP?

According to CoinMarketCap data, XRP has dropped by more than 6% in the past seven days. At the time of writing, the trading price of the Token is $2.15, with a market capitalization exceeding $123 billion, making it the fourth largest cryptocurrency. It is worth noting that despite the price drop, market sentiment surrounding this Token has improved.

XRP's weighted sentiment has risen in the past few days, meaning that the bullish sentiment around the Token has increased. However, its social volume has decreased - a sign of XRP's declining popularity in the crypto market.

Continue to use Token...

Although the price of XRP has dropped, the popular X account EGRAG CRYPTO, which releases updates related to blockchain, recently shared a tweet revealing the possibility of XRP fighting against BTC and ETH in the next few days.

"With the decline of BTC dominance and the steady rise of ETH dominance, XRP has explosive potential that surpasses both. Currently, it has a dominance of 3.93% (higher than Fib 0.382). If XRP closes above Fib 0.5 (5.57%), we can expect double-digit dominance in the future."