"Bitcoin broke through $80,000 for the first time since January 31, driven by geopolitical developments that restored risk appetite in crypto markets. However, XRP's response was muted, capturing only a fraction of Bitcoin's gains."
"Throughout the year, XRP has shown a pattern of underperformance during Bitcoin rallies, often capturing less than its expected share of the gains, which raises questions about its market dynamics."
XRP is currently trading at $1.41, up 1.2%, while Bitcoin has surpassed $81,600, gaining 2.4%. Despite Bitcoin's rally, XRP has only captured a fraction of the gains, reflecting a persistent trend of underperformance during Bitcoin's upward movements. The correlation between the two coins is around 0.63, indicating XRP typically follows Bitcoin's direction, but lacks its own catalysts for significant movement. This year, XRP's response to Bitcoin rallies has been consistently weak, raising concerns among holders about capital rotation.
Read at 24/7 Wall St.
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