BTC vs XRP: Examining the correlation and clash of opinions

A conversation erupted about the XRP's dependence on Bitcoin. Some of these overlooked data shed light on the matter.

. The lawyer, who openly supports XRP, explained that the token followed BTC’s direction despite the positive development. Deaton mentioned,

“If all XRP holders in are in a common enterprise with Ripple and relying on the successful efforts of Ripple, you would expect XRP to react. Yet, it does what it always does – follows Bitcoin and the macro environment.” Although XRP has correlated with Bitcoin at several points, the recent correlation coefficient was 0.19, based onFor the unaccustomed, the correlation coefficient is a three-month statistical measure used to estimate the degree of returns between assets. So, the value mentioned above suggests a divergence in performance.related to the outcome of the SEC case.In response to Deaton’s comments, the Ripple community house was divided.

“I don’t think so & disagree with this statement. XRP would have had similar technical moves compared to Bitcoin if XRP followed BTC. So even this argument substantiates their different dynamics, although both are in the same arena.” However, it seemed that there was some truth to Deaton’s opinion. But this was based on market sentiment instead of price action.

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