RATE Group | XRP Dipping Below $0.20 Proves It’s Yet to Decouple from Bitcoin (BTC)
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XRP Dipping Below $0.20 Proves It’s Yet to Decouple from Bitcoin (BTC)

10 May XRP Dipping Below $0.20 Proves It’s Yet to Decouple from Bitcoin (BTC)

Posted at 20:06h in Bitcoin News by

In summary:

  • Bitcoin has dropped by 15% a day before halving. 
  • BTC’s dip has had a ripple effect on every coin and token including XRP. 
  • XRP’s dip below $0.20 proves that decoupling is yet to happen.

Earlier today, Bitcoin (BTC) dropped hard from a value of $9,600 to $8,100. The sudden dip by the King of Crypto has had a ripple effect on the entire spectrum of cryptocurrencies. In the case of Ethereum, ETH dropped from a value of $210 to $179 in a matter of minutes. XRP was also not spared and dipped from the previously observed support zone of $0.214 to $0.177 in the same time period BTC crashed in the markets.

XRP’s Correlation with Bitcoin (BTC)

According to the team at Coinpredictor, the correlation of XRP to Bitcoin has a value of 0.30. This value is derived from a scale of -1 and 1 with the latter value being the strongest correlation to BTC. From the value associated with XRP, we can conclude that the remittance coin has less of a…

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