XRP dumped and BTC goes up, coincidence ?

[themohit]

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

So, are we going to draw those conclusions with every event which happens at the same time?
No, thats not how correlation works. XRP and BTC markets are related and effect each other, but that effect is not as big as you've imagined.
Perhaps, both of them represent some sort of global economy turn and one single event effects them in two different directions.

[Ridwan Fauzi]

I do not think so. As a result, BTC is the first crypto currency and does not need other cryptocurrencies. It has proven itself extremely well and we can see this very well in its current situation. If there were the same situations on BTC then I could defend your thesis, but unfortunately I do not agree with your opinion.

In fact XRP has a bad fundamental, there are some case which accused by SEC to Ripple and I'm sure that is why XRP dump heavily. As you can see on the chart, a month a go XRP has been able to reach $0.8 from the bull run market but it is just for a while. Because it is need just two week for the price fall to $0.2. There is no way to compete bitcoin pricr movement in this bull run market. Almost altcoin dump when bitcoin price up and also almost altcoin dump when bitcoin dump. It is not profitable when we choose trade or investing in altcoin at the current situation.

[michellee]

Even the XRP price is down, some traders still make a profit from the situation. They know how to use this moment to take benefits from XRP. I guess XRP needs to clear the problem first because some exchanges already stop to trade XRP. I wonder what will happen to XRP because I think many investors of XRP still have a hope to see this coin increase in the next altcoin season. I think this fall is not predicting before, and when it's happening, many people shocked to see that.

[Argoo]

Altcoins move almost in sync with BTC. If the BTC price rises, the altcoins price will also (tends to) go up.
However, XRP's price will swing wider than BTC, so when BTC goes down a little, XRP will go down more.

Ripple's network leaders are in big trouble right now. The SEC filed a lawsuit against Ripple and its top executives on December 22 for over $ 1.3 billion in unregistered securities transactions and the sale of $ 800 million worth of ripple cryptocurrency without proper registration to users. This charge is very serious and should result in billions of dollars in fines. XRP's reputation has been severely shaken. Therefore, the price of this coin has dropped to $ 0.22 today. These events have nothing to do with the rise or fall in the price of bitcoin.

[AssociatesBumble579]

I agree with you. Here influenced each other, But nowadays, Both of the coins are growing up their value from their own position. For example, In the last few months ago Ripple (XRP) had consistently grown up its value and on the other hand, the BTC is in the same way increased. So, I don't think they are influencing each other negatively.

[TopTort777]

Those who find “xrp goes down, btc goes up” not a coincidence, explain why when numeroues times bitcoin was announced to be a bubble and many times it was considered dead, altcoins does not go up? Coincidence right?

Before SEC claims, Ripples daily trading volume was around 20 billions us dollars. Now it is only 10. If what in topic name is not a coincidence, then these 10 billions mush have been added to Bitcoin volume. But Bitcoins volume om reased from 400 billions to 600. Ripple has not enough strenght to influence on Bitcoins price.