The cryptocurrency market continues its downtrend, pushing XRP price down for a fourth consecutive day. Despite this decline, the XRP Ledger network witnesses growth with Circle’s expansion of USD Coin (USDC) to the network. Data on Circle’s website shows that USDC supply on the XRP Ledger has surged beyond $2 million since integration. Additionally, partnerships like Ondo Finance (ONDO)’s tokenized treasury expansion through Guggenheim Partners further fuel the XRP ecosystem. Meanwhile, Ripple USD (RLUSD), the stablecoin backed by XRP, keeps growing, inching closer to a $500 million market cap milestone this month or in July. This growth is bolstered by the rising chance of the US Securities and Exchange Commission approving a spot XRP exchange-traded fund, with current estimates placing the likelihood at 90%, potentially leading to an October ruling after the June 16 deadline for Franklin Templeton’s application. Despite this positive outlook, the daily chart reveals a downward trend for XRP, falling from $3.40 in January to below $2.20. The token is currently trading below both its 50-day and 200-day Exponential Moving Averages, signaling increased bearish pressure. The descending triangle pattern on XRP further indicates potential bearish movement, with a significant breakout towards $1.9097 serving as confirmation.