A recent post by Vincent Van Code, a well-known figure in the crypto community, recently shared a chart showing that XRP is maintaining a strong correlation with Bitcoin.
The analyst determined this using comparative charts of XRP/USDT and BTC/USDT. According to Van Code, XRP mirrors Bitcoin’s movements almost identically, aside from minor peaks in its price action.
This behavior reinforces the broader trend of XRP following BTC’s market dynamics. However, Van Code expressed optimism that XRP’s dependence on Bitcoin’s price fluctuations will diminish over time, signaling potential growth and maturity in XRP’s independent market dynamics.
#XRP isn't "sort of" following #BTC
It's almost identical with exception of two little peaks.
We still early, but know this, these days of #XRP following #BTC will be over soon. pic.twitter.com/z7eV91MeRz
— Vincent Van Code (@vincent_vancode) January 23, 2025
XRP’s Current Support and Short-Term Predictions
In the discussion, one community member asked whether XRP would hold its support level near $3. Van Code responded cautiously, stating that while low trading volumes might cause XRP to momentarily dip below $3, he remains confident about a rebound.
This assessment reflects the general uncertainty in crypto markets, where volatility is a constant factor. Van Code’s observation about low trading volumes hints at a market lacking strong buying momentum, which could lead to short-term price fluctuations.
What Would A Break In Correlation Mean for XRP
The ongoing correlation between XRP and BTC underscores a significant characteristic of the cryptocurrency market—altcoins often mirror Bitcoin’s trends. However, many XRP enthusiasts believe this relationship is temporary and that XRP’s unique utility and use cases will eventually allow it to decouple from Bitcoin.
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Van Code’s commentary also aligns with this sentiment, as he mentioned that XRP’s alignment with Bitcoin’s price movements may not last indefinitely. XRP has a history of breaking its correlation with Bitcoin, and such a shift could mark a turning point for XRP as it moves towards establishing itself as a standalone asset with independent market dynamics.
Market Expectations
The broader market sentiment around XRP remains optimistic. Despite the recent price drop, XRP has held above the $3 support. While short-term fluctuations around the $3 mark remain a possibility, the potential for a rebound above $3.20 offers hope for bullish momentum.
Other analysts have also shared bullish predictions, with one analyst recently predicting a rise to $8 for the digital asset. XRP has a bright future, and breaking the correlation with Bitcoin could help it achieve the lofty expectations of these analysts.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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