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Hello @vinodenarain,
Thank you for contacting Rank Math support.
Please note that the sitemap is only used for the discovery of the site URLs. Any error with the sitemap won’t affect the performance of already indexed pages in the SERPs. So, the drop in traffic must be related to something else.
With that said, your sitemap is showing the “XML Parsing Error: XML or text declaration not at start of entity” error. Please follow this guide to fix it: https://rankmath.com/kb/fix-sitemap-issues/#xml-text-declaration
Hope that helps and please do not hesitate to let us know if you need our assistance with anything else.