XRP might soon detach itself from BTC

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Posted on: June 8, 2020 6:19 pm EDT

A crypto intelligence firms believes Ripple is soon going to strike out on its own

XRP and Bitcoin (BTC) might be bound to be decoupled, according to the crypto intelligence company Santiment. According to this firm, the fourth largest cryptocurrency in the world is more on the radar now that there have been major upticks in its social metrics. “XRP has entered the top spot on Santimentfeed’s Emerging Trends and has seen massive social volume spikes,” said the company, “These are potential indicators of an upcoming decoupling from BTC, so keep an eye on Ripple’s upside since these spikes aren’t pump-related yet.”

This seems to be only one opinion that not everyone agrees with. There are two large and followed technical traders that are not on the same page; they believe the extended bear market of the XRP/BTC pair market has a long life ahead. According to what trader Cheds told his 78,000 Twitter followers that XRP/BTC is forming a bearish pattern that sets the stage for another leg down.

Also, Crypto analyst Ethereum Jack seconds Ched’s opinions. The analyst said that he expects XRP/BTC to continue showing signs of life or it will be poised to lose over half of its value. “I will trade XRP vs BTC when it shows strength. Any weekly close above green and I’m interested,” said Ethereum Jack.. “Until then, who knows what can happen, currently down 91% since ATH but has seen 95% drops before, which is close to another 50% dropdown. Move slow.”

Finally, Florent Maulin, a researcher at the crypto metrics platform Messari, said that XRP’s inflation rate might be related to its poor performance of more than a year. According to him, the digital currency’s rate of inflation is one of the highest among large-cap coins.