Opinion: Bitcoin, the first cryptocurrency, had grown over ten years. However, other old coins did not have the freedom, which is why Bitcoin dominates almost all old coins in the ecosystem, be it Ethereum, XRP or Cardano. The price of old coins generally tends to rise as the price of Bitcoin rises rapidly. The same is true for the downtrend. For this reason, it is said that Altcoins should be coupled with Bitcoin.
The recent madness on Crypto-Twitter, however, is that XRP is about to decouple from Bitcoin. Twitter user @XRPMOONSHINE has tweeted: "DO ME A FAVOR OPEN UP A BTC / USD CHART AND AN XRP / USD CHART. They have decided and move differently. "
The comparison of the price changes of XRP and BTC in a very general sense gives a rough idea of whether prices are actually decoupled or not. The daily chart below therefore shows the price of BTC and XRP against the US dollar and ranges from August 201
However, there are times when the price of the XRP has moved completely independently of that of Bitcoin. For example, from 18 to 22 September, the meteoric rise in XRP was far greater than BTC's price rise over a similar period. However, the decline in the XRP from 18 November to 16 December was exactly the same as that of BTC.
In addition, XRPMOONSHINE indicated that the XRP price was being compromised. He tweeted:
"It's manipulated to prevent it from rising. Take a look at the XRP / BTC pair, for example. Keep it below the declining resistance of .80 in September. I mean oppressed, although I expect a fairly large upward movement before 24.04.19.
The "idea" that the price of RFA is manipulated is not unpopular in the XRP ecosystem as Peter Brandt. a famous trader suggested the same in one of his tweets.
Dynamics at work in a massive descending triangle that moves toward the top.
1. Mkt is manipulated
2. Support of manipulators at a fixed level
3. However, they are forced to lower their selling price over time
4. If (if) the support yields, will follow despair $ XRPUSD pic.twitter.com/RmJaYiC8KY
– Peter Brandt (@PeterLBrandt) March 21, 2019
XRP has It may have begun to decouple from Bitcoin, but it is certainly not completely decoupled. The idea that XRP is manipulated to keep the price below a certain value can not be confirmed without proof.
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