XRP has fallen more than 24 percent over the past four weeks, underperforming Bitcoin and Ethereum.

XRP traded around $1.04 on Nov. 10, local time, the blockchain media outlet the Defiant reported. It has fallen 24.3 percent in about four weeks from $1.37 on Oct. 13.

Over the same period, Bitcoin fell 12.3 percent and Ethereum dropped 19.6 percent. XRP's decline was about twice that of Bitcoin, standing out as weakness among major cryptocurrencies.

The trend was similar even when narrowed to the past week. XRP fell 18.3 percent, a bigger drop than Bitcoin's 5.7 percent and Ethereum's 12.1 percent.

It was also confirmed that stolen XRP from Binance was exchanged in large amounts into Bitcoin. Blockchain analytics firm Elliptic said most of about $190 million worth of stolen XRP was converted into Bitcoin. The U.S. Federal Bureau of Investigation identified North Korea as behind the hacking.

The scale of conversions of the stolen holdings expanded from earlier analysis. Elliptic said on Nov. 6 that about $50 million worth of XRP was exchanged into Bitcoin. Disposals continued, and by the previous night about 35 million XRP worth about $38 million had been converted, with most of the holdings swapped into Bitcoin through THORChain. Still, it is difficult to conclude this was the direct cause of the price decline.

Elliptic said 60 million XRP worth about $64 million remained in accounts linked to the theft. With a substantial amount already exchanged into Bitcoin, whether the remaining XRP will be further disposed of is also cited as a supply-and-demand variable going forward.

The key point is that XRP weakness did not proceed at the same pace as the broader decline in major cryptocurrencies. The continued conversion of stolen holdings into Bitcoin showed that supply-and-demand shifts in an individual asset can widen price gaps.