XRP dumped and BTC goes up, coincidence ?

[mu_enrico]

Yeah, it isn't good for XRP: https://www.sec.gov/litigation/complaints/2020/comp-pr2020-338.pdf
But EOS can "dodge" a similar lawsuit by just paying unsubstantial fines. Let's see if Ripple can just do that.
The price will rebound if it just fines. However, if Garlinghouse and Larsen go to prison, it would be horrible for XRP.

[arabianhorse]

We are all aware the XRP is facing changes by SEC against Ripple Labs Inc. & two of its executives. This is really a serious news as they allege that they raised over $1.3 billion through an unregistered digital asset securities offering which is creating a huge fud and panic in the market and when such news come, it comes with many rumours like XRP might not be tradable but if this happen then it will be for US not for the world as for giving trading facility to users exchanges also have to register accordingly in US and this is always a big issue for any centralized crypto and XRP price feeling the heat.

[soetikno]

investors who buy XRP are likely only for an airdrop because they hold XRP for too long to dump, and switch to BTC

[Lhaine]

Now here comes the news about XRP getting sued. I'm pretty sure that XRP dump this time gonna be huge because many people want to withdraw their money or exchange it to more "prospective" coins and there's this really bad news about XRP.
I will be simply amazed if XRP could atleast retain its 50% of the current values it things goes south. The airdrop which supposed to pump XRP now become catalyst speed up the dumping somehow.

It's already happen it's dumped %30 in just a day , there are even more negative news like this one https://seekingalpha.com/news/3647012-bitwise-unloads-all-ripple-in-fund-after-sec-suit?utm_source=coinmarketcap.com&utm_medium=referral . That can force other investors  to dump their tokens and move to other altcoins instead.

There is also news that Ripple also plan to migrate to other country even before sec suit them .

[Tash]

.....
There is also news that Ripple also plan to migrate to other country even before sec suit them .

LOL, ask Liberty Reserve how it worked out for them in moving to Costa Rica (btw it did have 1 million active users and 5 million accounts)
https://www.justice.gov/opa/pr/founder-liberty-reserve-pleads-guilty-laundering-more-250-million-through-his-digital

[wxa7115]

I have a theory, that some coins influence BTC price negatively,
In the past i felt that once XRP goes BULL, it stops BTC BULL
and now, i see once XRP was dumped after the airdrop, BTC went bull again

Very improbable theory but where is the evidence? we know that XRP is correlated to bitcoin and there are tests that you can make on the data to make this inference, but you cannot make the same inference backwards, in fact you are trying to argue they are negatively correlated in a similar fashion than what we see between stable coins and bitcoin when compared on their BTC price.

Personally this is a topic that I have studied for a long time and I simply do not see it and in the few cases that this may have happened this can be attributed to a simple coincidence and nothing more.

[martina14]

I have a theory, that some coins influence BTC price negatively,
In the past i felt that once XRP goes BULL, it stops BTC BULL
and now, i see once XRP was dumped after the airdrop, BTC went bull again

Have you forgotten that the market is unpredictable dude? also when Bitcoin goes up most of the altcoins dump their price value
in the market as well, only few of the altcoins follows the trend of bitcoin price like Ethereum, and more this was happened a couple of years
now in this field of business.

[bryant.coleman]

From what I have seen, the Bitcoin prices have remained stable at $22,500-$23,500 range. Whatever happening with XRP is having very minimal impact on the Bitcoin exchange rates. And I have also noticed an increase in the USDT/USDC trade volumes recently. This means that even if there is mass dumping of XRP, the sellers are mostly doing it against stablecoins rather than selling their holdings for BTC/ETH.

[Sebas.tian]

investors who buy XRP are likely only for an airdrop because they hold XRP for too long to dump, and switch to BTC

That was some of the reasons behind XRP dumping but the most that's affecting the Ripple price currently is the issue they had with the SEC. This has badly affected the price of Ripple as at today, according to some news outlets, some big exchanges has started the delisting of this coin from exchnage which made it to dropped from $0.6 to $0.2 as at this moment, though within 24hrs it has regained some good percentage 12%.

[AbbyS]

btc price going up after xrp dump, can anyone deny it ?

[lunnatic]

Maybe this is a coincidence, because there are too many xrp holders, almost millions of xrp are selling on the market and,
of course this makes the price of xrp dump and maybe the holders choose bitcoin to be the next place, that's the reason maybe.

[bryant.coleman]

btc price going up after xrp dump, can anyone deny it ?

Bitcoin prices are going up, but that has nothing to do with the XRP dump. Bitcoin prices were going up even before the announcement regarding XRP came from the SEC. There may be some impact due to XRP holders converting their tokens to BTC, but the main driver is not Ripple dumping. As far as I can see, most of the XRP trade volumes are against USDT, with BTC being a distant second.

[marilynmanson21]

From what I have seen, the Bitcoin prices have remained stable at $22,500-$23,500 range. Whatever happening with XRP is having very minimal impact on the Bitcoin exchange rates. And I have also noticed an increase in the USDT/USDC trade volumes recently. This means that even if there is mass dumping of XRP, the sellers are mostly doing it against stablecoins rather than selling their holdings for BTC/ETH.

Many XRP holders panic about this issue, but you don't worry that this won't affect BTC, because BTC runs on its own without altcoin support.
However, I would prefer this issue to arise now than later when the bull market is at its peak, as it will be very painful for investors. so at least now investors can move to other coins such as BTC or ETH which have trusted liquidity.

[TimeTeller]

From what I have seen, the Bitcoin prices have remained stable at $22,500-$23,500 range. Whatever happening with XRP is having very minimal impact on the Bitcoin exchange rates. And I have also noticed an increase in the USDT/USDC trade volumes recently. This means that even if there is mass dumping of XRP, the sellers are mostly doing it against stablecoins rather than selling their holdings for BTC/ETH.

Many XRP holders panic about this issue, but you don't worry that this won't affect BTC, because BTC runs on its own without altcoin support.
However, I would prefer this issue to arise now than later when the bull market is at its peak, as it will be very painful for investors. so at least now investors can move to other coins such as BTC or ETH which have trusted liquidity.

Actually, we are seeing that bitcoin is in the green position, while XRP is still in red.
Which translates that, indeed btc is not affected by what is happening with XRP right now.
I am a user of XRP also as they offer cheap fees for transfer, and participated in spark token airdrop.
But I sold my XRP just before this lawsuit broke out, which, I guess for me is a very lucky one.
I really have no inclination of holding this for long-term because it is a centralized one, and anything can happen at anytime to this type of coin.
I believe, we will learn a thing or two from this XRP's situation. If this will fall below 20 cents in the coming days, this will be very bad to the xrp market.

[gaston castano]

now the btc and altcoin markets are moving independently.
So I don't think altcoins will or will not be too affected by BTC prices.
yes indeed in the past few months BTC has experienced a very high increase, but that does not mean that altcoins will not be able to go up, it seems just waiting for the time.
because they are moving respectively now.

[bitkanu]

This contradiction probably shouldn't come as a surprise that XRP is at a disadvantage with bad news, while Bitcoin is constantly rising and it does not depend on any Altcoins, Bitcoin is the decisive currency price.

Whole of market are still in the bullish trend and it looks like another exchange site will be delisting ripple from its platform. the price is getting plunged so hard again. Bitcoin is not being affected by altcoin especially for the movement of its price. Otherwise, bitcoin has a very strong impact on the altcoin.
More bad news will always come for ripple for sure. The battle with SEC is about to be started very soon.

[Fredomago]

This contradiction probably shouldn't come as a surprise that XRP is at a disadvantage with bad news, while Bitcoin is constantly rising and it does not depend on any Altcoins, Bitcoin is the decisive currency price.

This incident simply because of the ongoing issue with SEC and not because of bitcoin pump. Most of the time XRP also followed the trend when bitcoin start gaining support.

Downfall still continuing and by this moment it suffer a lot, without any action about SEC issue  XRP may experienced more dump to come.

It's about the trust sad to those who invest and keep their coin instead of selling it after the flare airdrop.

[CapGelatik]

we all know that Ripple has as many holders as Ethereum, because they have a high market cap, just imagine if the holders choose to leave and their money puts it in bitcoin then the demand from bitcon will increase, and this is definitely not a coincidence, I am aiming at this.

[Zemomtum]

This is not a coincidence, XRP is dumping based on the current lawsuit they are facing and BTC has done correction for complete 3 years, every eye is on it to move northward, and we are just getting started.

[Hairynipples]

Coinbase suspending XRP trading isn't good news for holders:

https://cointelegraph.com/news/coinbase-announces-it-will-suspend-xrp-trading-as-price-drops-another-10