XRP, the fourth-largest cryptocurrency, has seen a significant drop in price and market cap recently. It lost $20 billion in market cap in the second to last week of December and has continued to decline. At the time of writing, its market cap had fallen to $116 billion. XRP is currently trading at $2.03, down 25.09% from its December 2 high. Despite impressive year-to-date gains, the token has seen a 5.88% decrease on the daily chart. XRP is set to drop below $2, which could cause a prolonged drop, but it is expected to be a temporary situation. One factor affecting XRP's price is Ripple Labs' monthly unlocking of 1 billion XRP tokens, which will likely increase selling pressure and supply. However, the overall bullish thesis for XRP remains unchanged, and it is expected to resume its uptrend in the future, especially if XRP spot exchange-traded funds are approved.



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