The cryptocurrency market has just experienced a significant drop, but Ripple's XRP has recovered about 20% after hitting the bottom. Earlier this week, Ripple announced a new stablecoin, approved by NYDFS, set to launch on December 17. The price of XRP rose from $2.35 to $2.7 after the announcement, but then sharply fell below $2.25 due to the U.S. FOMC meeting. By Friday, XRP dropped below $2, losing 28% of its value. However, XRP has recovered and is currently at $2.35. According to analyst Dark Defender, XRP may have hit the bottom and is on a growth trajectory. 📈✨