Try this one, perhaps it works…
$w.onReady(function () {
$w("#repeater1").onItemReady(($item, itemData, index) => {
let ribbonText = itemData.ribbons[0].text;
let array = itemData.ribbons;
if (ribbonText === undefined){
$item('#ribbon').hide();
}
else {
$item('#ribbon').show();
$item('#ribbon').label = ribbonText;
}
});
});