Tuesday, October 4, 2022
HomeNewsXRP ‘Stand Aloof’: Here Is Why Ripple (XRP) Could Soar on Stellar...

XRP ‘Stand Aloof’: Here Is Why Ripple (XRP) Could Soar on Stellar (XLM) Recent Upsurge

XRP is presently trading at $0.19.

XLM is now trading down just over 1% at its current price of $0.099.

XRP Bull Case May Be Bolstered by Stellar (XLM) Price Action

This fact was also substantiated by correlation data from blockchain analytics company, CoinMetrics which noted that the 180-day correlation of the two crypto assets is nearly 0.80.

However, with Stellar (XLM) recent 12 percent upside rally, the duo had to decouple again. In the previous year, XLM has accrued nearly 30% while XRP has lost 34% within the time frame.

If the correlation is established again, that means the two crypto assets will be on par implying that Stellar (XLM ) may dive or XRP will need to climb. Despite the opportunity for XRP rallying presented by this strong correlation, not everyone agrees to this school of thought.

Peter Brandt earlier stated that since XRP broke a key resistance against Bitcoin, it could be inclined to see a 90% pullback to levels last recorded since the start of 2017.


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