{"id":561345,"date":"2020-05-10T21:43:57","date_gmt":"2020-05-10T19:43:57","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=561345"},"modified":"2020-05-27T02:07:25","modified_gmt":"2020-05-27T00:07:25","slug":"xrp-dipping-below-0-20-proves-its-yet-to-decouple-from-bitcoin-btc","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/xrp-dipping-below-0-20-proves-its-yet-to-decouple-from-bitcoin-btc\/","title":{"rendered":"XRP Dipping Below $0.20 Proves It’s Yet to Decouple from Bitcoin (BTC)"},"content":{"rendered":"
In summary:<\/strong><\/p>\n 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<\/a> to $0.177 in the same time period BTC crashed in the markets.<\/p>\n According to the team at Coinpredictor<\/a>, the correlation of XRP to Bitcoin has a value of 0.30. This value is derived from\u00a0a 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 correlation to Bitcoin compared to other coins such as Tezos<\/a> which has a value of 0.84.<\/p>\n However, XRP is yet to decouple from Bitcoin as can be seen with the recent drop from $0.214. At the time of writing this, XRP is valued at $0.192.<\/p>\n\n
XRP’s Correlation with Bitcoin (BTC)<\/h2>\n
XRP is Yet to Decouple<\/h2>\n