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XRP was not among the gainers as the cryptocurrency market attracted capital of up to $12 billion in a day.

The Ripple blockchains native asset slumped by up to 2.19 percent on Monday to establish an intraday low of $0.194. The downside move negated XRPs gains registered during the Sunday trading session by 1.38 percent. At the same time, it pushed the cryptocurrencys 24-hour adjusted performance down by 0.77 percent.

Ripples XRP token correcting lower after spending Sunday in a positive area | Source: TradingView.com, BitStamp

In contrast, other top coins were faring better. Bitcoin, the leading cryptocurrency, was up by 5.41 percent on a 24-hour adjusted timeframe as of 1300 UTC. The second-largest Ethereum was similarly trading 2.86 percent higher, showing little-to-no signs of upside exhaustion.

The intraday losses in XRP closely follow Ripples announcement of raising $200 million in a Series C funding round. The San Francisco firm, which offers blockchain-based cross border remittance services to banks and similar payment institutions, also valued itself at $10 billion after the fundraiser.

Nevertheless, the news did little to improve XRPs interim aspects. The token, whose value plunged by up to 52 percent on a year-to-date scale, registered a decent 3.86 percent gain on the day of the announcement. But it failed to extend the upside momentum and remained mostly flat during the sessions that followed later.

The move came as a shocker to analysts who had expected XRP to draw gains after Ripples high-profile fundraiser. CNBC Fast Money hostKate Rooney pointed out the tokens long-standing underperformance. She further reminded that Ripple, which remains the majority stakeholder of XRP, has swayed investors due to its quarterly XRP sell-offs.

Ripple also uses XRP as a so-called bridge currency for cross-border transactions, Ms. Rooney added. XRP had skyrocketed alongside Bitcoin two years ago. Its now down roughly 50% this year, while Bitcoin has actually rallied 80%.

Renowned crypto trader and market analyst Tone Vays also made serious remarks against Ripple in a recent interview. He said that he neither sees value in the company nor in its cryptocurrency XRP, adding that Ripple continues to dump XRP tokens on the rest of the token holders, which gives them an unfair and illegal advantage over other startups.

Against the ongoing FUD against Ripple, some still believe the company is a Silicon Valley unicorn in making.

Michael Arrington, a partner at Arrington XRP Capital a Seattle-based digital asset management firm, defended Ripple by bringing its investors psyche into the conversation. He recognized the companys ability to attract big names such as Tetragon, SBI Holdings, and VC firm Route 66 Ventures as its leading investors.

If youre perplexed as to why investors would aggressively invest in Ripple at a $10b valuation, the problem maybe you, said Mr. Arrington. Or you could just keep believing youre so smart and theyre so dumb.

Kevin Cage an XRP regular on Crypto Twitter said he will keep holding the cryptocurrency regardless of the FUD.

Too much potential upside to ignore, asserted Mr. Cage.

The XRP/USD pair was trading at 0.196 at the time of this writing.

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Why XRP Isnt Surging in Tandem With Rest of the Cryptocurrency Market - newsBTC