A bit difficult from just that description. Do you have some photos? Whereabouts are you? Is it indoors or outdoors, sun or shade? How much water do you give it? Does the soil drain well? When you say you "got a small bundle of plant" do you mean it was without soil when you got it?

Thanks for the response! I'm in dry Colorado, and I keep it indoors. I had it close to a window sill in bright light, but moved it to indirect lighting as it sickened. I was watering it as the soil felt dry, roughly every two days. I think the soil drains, and pot has a hole in the bottom. It came in basic soil from the store. The tips of the leaves are starting to show blackish-brown. I'm completely stumped haha.

Soil is very important, it must drain freely. If the plant has deteriorated over 2 weeks that could be the cause, some of the roots beginning to rot. Soil on the surface may feel dry but below it may still be wet. You can use a wooden skewer and push it down into the soil. When you pull it out you'll see whether it's wet or dry further down.

Well draining soil is important but I have found many common Chamaedorea species pretty hard to overwater. Best to keep them a bit on the wet side when first starting with them as drying out will kill a baby palm as fast as rotting them will.

Also this is not the smallest species of palm by a long shot... outdoors grows over 10' tall. Many Chamaedoreas only grow several feet tall. One Rhapis cultivar gets only 8" tall even when mature. But it is not a huge palm (one reason it makes such a good indoor species).