Ripple’s XRP price experienced a notable decline today, October 7th, despite positive recent developments for the company and its native cryptocurrency. While this downward trend is attributed to broader market negativity affecting most cryptocurrencies, XRP’s drop appears sharper compared to others in the industry, highlighting a potential confluence of factors. Ripple made several significant strides this year, including a substantial $500 million investment round led by well-known firms like Fortress Investment Group and Pantera Capital. This influx boosted Ripple’s valuation to an impressive $40 billion, indicating strong investor confidence. **The company also partnered with major players in the financial sector like Mastercard, WebBank, and emini**, expanding the use of their stablecoin, RLUSD, on the XRP Ledger for blockchain-based payments. This expansion is a significant development, potentially opening doors to new use cases and driving broader adoption of Ripple’s technology. **In addition, positive data for the XRP Ledger emerged.** New XRP wallets surged, with 21,595 newly registered accounts in just two days, marking the largest such increase in eight months. This indicates active participation within the XRP community. The on-chain sector also showcased healthy transaction activity, with a new all-time high achieved by one of the native DEXes, exceeding 950,000 daily transactions. **However, despite these positive developments, XRP saw a noticeable dip.** A combination of factors could be contributing to this decline, including overall market negativity and potential whale selling pressure. Analysts have raised concerns about a possible downside for XRP, with some suggesting it may soon drop below the $2 mark. This possibility is further emphasized by reports of large-scale token disposals by whales over recent days. **While XRP’s price remains under pressure, it continues to compete with BNB for fourth place in market capitalization.** Despite this competition, XRP has maintained a slight advantage, but this margin remains narrow. The article’s visual representation of XRPUSD on TradingView highlights the current situation. This downturn follows a 23% decline within the last month, demonstrating how crucial understanding market dynamics is to navigating these fluctuations.