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Ripple (XRP) Might End Up Decoupling From Bitcoin (BTC)
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Ripple (XRP) Might End Up Decoupling From Bitcoin (BTC)

Ripple (XRP) investors have had enough of Bitcoin (BTC). Every time the price starts to rally, Bitcoin (BTC) reins it back in. Ripple (XRP) is still largely influenced by Bitcoin (BTC) considering we have XRP/BTC pairs on all most major exchanges. However, we have seen that Ripple (XRP) investors have recently become more defiant and weary of the pull of Bitcoin (BTC) in a more open and organized way. Yesterday, the entire cryptocurrency market nosedived and in no time there was blood on the streets. While most cryptocurrencies lost in every way, Ripple (XRP) gained in some. The biggest victory for Ripple (XRP) was that it beat Ethereum (ETH) to the second spot. That’s right; Ripple (XRP) is now the second largest coin by market cap.

How did this happen? Well, most Ripple (XRP) investors have a strong belief that XRP is here to stay whether BTC stays or not. So, when the market crashed hard, Ripple (XRP) did not crash as hard. In fact, Ripple (XRP) is currently up against Bitcoin (BTC) while most cryptocurrencies are in deep losses against Bitcoin (BTC). There have been talks of decoupling from Bitcoin (BTC) in the Ripple (XRP) community before. However, this time a lot more people are going to be open to such an idea considering that yesterday’s events exposed how decentralized Bitcoin (BTC) really is. If a pissing contest between two people can put a multi billion dollars dent in the market in a matter of seconds, does Ripple (XRP) really want anything to do with that market?

 

Ripple (XRP) supporters were also quick to diss Bitcoin (BTC) maximalists for their whole “holier than thou” act after the crash actually exposed the centralized nature of Bitcoin (BTC). This does not have anything to do with Bitcoin (BTC) fundamentally, nor does it mean that Ripple (XRP) may eventually replace Bitcoin (BTC) as a better alternative. All it means is that Bitcoin (BTC) maximalists criticizing Ripple (XRP) for being too centralized were either oblivious to their own affairs or they were being biased. In any case, a lot of people are wondering at this point why they should not just invest in Ripple XRP/USD instead of something like Bitcoin (BTC) considering Ripple (XRP) is controlled by one centralized entity that is likely to act in its best interest. 

Bitcoin (BTC) on the other hand can even be influenced by people who do not have its best interest at heart. Two of those people are Craig S. Wright and Jihan Wu. Both of them claim to care about Satoshi’s vision but none of them seem to truly understand what it actually means. Both of them are prepared to do anything to bring the other down regardless of its impact on the price of Bitcoin (BTC). On the other hand, Ripple (the company) is extremely unlikely to do anything that is going to hurt the price of XRP. If Bitcoin (BTC) and the rest of the market do not put its affairs in order, Ripple (XRP) is highly likely to end up decoupling from Bitcoin (BTC) sooner rather than later.

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Fakhan

I work as the key Trading Analyst for Crypto Daily and provide the team with regular analyses and updates regarding the technical performance of all cryptocurrencies on the market. I am responsible for the production of articles and posts for Crypto Daily’s own technical analysis section and spend my time monitoring and commenting on the varied moves the markets make on a daily basis.

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