{"id":566037,"date":"2023-12-20T01:30:25","date_gmt":"2023-12-20T01:30:25","guid":{"rendered":"https:\/\/wncen.com\/?p=566037"},"modified":"2024-06-11T08:32:52","modified_gmt":"2024-06-11T08:32:52","slug":"xrp-and-xlm-in-lockstep-expert-sheds-light-synchronization","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/xrp-and-xlm-in-lockstep-expert-sheds-light-synchronization\/","title":{"rendered":"XRP And XLM In Lockstep? Expert Sheds Light On Their Surprising Price Synchronization"},"content":{"rendered":"

Recently, a notable observation has been the significant correlation <\/a>between XRP and XLM’s price action. This phenomenon has caught the attention of industry experts and investors alike, leading to a deeper examination of the factors driving this trend.<\/p>\n

Ripple’s Chief Technology Officer (CTO), David Schwartz, has weighed in<\/a> on this topic, addressing the liquidity aspects of XRP and XLM. However, despite the visible correlation, Schwartz argues<\/a> that more liquidity is needed in the XRP\/XLM market to cause a notable price correlation.<\/p>\n

\n
Related Reading: Stunning Correlation Emerges Between XRP And XLM, What\u2019s Going On?<\/a><\/div>\n<\/div>\n

This statement is based on data from CoinmarketCap, which illustrates the parallel price movements of these two cryptocurrencies over the past year. Schwartz’s insights provoke a deeper analysis of the potential reasons behind the alignment in their price behaviors.<\/p>\n

\n

Coinmarketcap makes it easy to compare the charts of various tokens. Here’s XRP versus XLM over the past year: pic.twitter.com\/qNzfIu2TTB<\/a><\/p>\n

\u2014 David “JoelKatz” Schwartz (@JoelKatz) December 18, 2023<\/a><\/p><\/blockquote>\n

Unraveling The Factors Behind XRP And XLM’s Correlated Price Movements<\/h2>\n

David Schwartz has identified three key factors influencing the XRP-XLM price correlation. Firstly, he posits<\/a> that the entire digital asset market is significantly interconnected.<\/p>\n

The market is still determining cryptocurrencies’ long-term viability<\/a>, so\u00a0industry news tends to affect all tokens, not just specific ones. This broader market sentiment could drive the correlation observed in XRP and XLM.<\/p>\n

Secondly, Schwartz suggests that the dominance of Bitcoin in the cryptocurrency market could play a role. Given Bitcoin’s substantial market share and its influence on liquidity within the crypto space, movements in Bitcoin’s price often result in ripple effects across other crypto, including XRP and XLM.<\/p>\n

\n

I think there are a variety of factors that might be at play and it’s hard to know which are real.<\/p>\n

One thing is that all digital assets track each other significantly. I think that’s because the market is still trying to figure out if they’re going to be a thing and so industry\u2026<\/p>\n

\u2014 David “JoelKatz” Schwartz (@JoelKatz) December 18, 2023<\/a><\/p><\/blockquote>\n

The third factor revolves around the crypto community’s perception that XRP and XLM require similar market conditions to thrive. However, Schwartz noted that he is “not sure if he believes this.”<\/p>\n

Developments within the broader crypto industry could prompt parallel reactions from users of both tokens, leading to correlated price patterns.<\/p>\n

Diverse Perspectives: From Short-Term Volatility To Long-Term Convictions<\/h2>\n

On the other hand, Bill Morgan, a lawyer and digital asset enthusiast, brings a different viewpoint<\/a>, mainly focusing on XRPL token. Addressing recent market volatility, Morgan emphasizes the importance of a long-term perspective when analyzing XRP’s price action.<\/p>\n

Responding to crypto community concerns about XRP’s performance, especially during heightened market movements, Morgan argues that convictions about the token should go “beyond short-term price fluctuations<\/a>.”<\/p>\n

Related Reading: Crypto Founder Predicts XRP Price Will Hit $22, Here\u2019s When<\/a><\/div>\n

Morgan’s stance is echoed by Matt, the Moon Lambo YouTube channel host, who points out that XRP’s price drop was not as severe as some in the crypto community perceived. Matt’s analysis places XRP at a moderate position among the top 50 coins by market cap in terms of gains<\/a> and losses.<\/p>\n

\n

This is correct but placed in the context of XRP\u2019s price action over the last month it is not great. XRP is down over 2% over the last month. Many but not all top 50 coins are up over the last month. In that context the fall was harder comparatively than could have been expected\u2026 https:\/\/t.co\/VrlD2k0mWu<\/a><\/p>\n

\u2014 bill morgan (@Belisarius2020) December 19, 2023<\/a><\/p><\/blockquote>\n

However, Morgan notes that the token’s performance over the past month has been lackluster, falling by over 2% despite a market-wide rally. This observation suggests that XRP’s decline was more pronounced than that of some of its peers, warranting a closer examination of its market dynamics<\/a>.<\/p>\n

\"XRP
XRP price is moving sideways on the 4-hour chart. Source: XRP\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Recently, a notable observation has been the significant correlation between XRP and XLM’s price action. This phenomenon has caught the attention of industry experts and investors alike, leading to a deeper examination of the factors driving this trend. Ripple’s Chief Technology Officer (CTO), David Schwartz, has weighed in on this topic, addressing the liquidity aspects of XRP and XLM. However, despite the visible correlation, Schwartz argues that more liquidity is needed in the XRP\/XLM market to cause a notable price correlation. Related Reading: Stunning Correlation Emerges Between XRP And XLM, What\u2019s Going On? This statement is based on data from CoinmarketCap, which illustrates the parallel price movements of these two cryptocurrencies over the past year. Schwartz’s insights provoke a deeper analysis of the potential reasons behind the alignment in their price behaviors. Coinmarketcap makes it easy to compare the charts of various tokens. Here’s XRP versus XLM over the past year: pic.twitter.com\/qNzfIu2TTB \u2014 David “JoelKatz” Schwartz (@JoelKatz) December 18, 2023 Unraveling The Factors Behind XRP And XLM’s Correlated Price Movements David Schwartz has identified three key factors influencing the XRP-XLM price correlation. Firstly, he posits that the entire digital asset market is significantly interconnected. The market is still determining cryptocurrencies’ long-term viability, so\u00a0industry news tends to affect all tokens, not just specific ones. This broader market sentiment could drive the correlation observed in XRP and XLM. Secondly, Schwartz suggests that the dominance of Bitcoin in the cryptocurrency market could play a role. Given Bitcoin’s substantial market share and its influence on liquidity within the crypto space, movements in Bitcoin’s price often result in ripple effects across other crypto, including XRP and XLM. I think there are a variety of factors that might be at play and it’s hard to know which are real. One thing is that all digital assets track each other significantly. I think that’s because the market is still trying to figure out if they’re going to be a thing and so industry\u2026 \u2014 David “JoelKatz” Schwartz (@JoelKatz) December 18, 2023 The third factor revolves around the crypto community’s perception that XRP and XLM require similar market conditions to thrive. However, Schwartz noted that he is “not sure if he believes this.” Developments within the broader crypto industry could prompt parallel reactions from users of both tokens, leading to correlated price patterns. Diverse Perspectives: From Short-Term Volatility To Long-Term Convictions On the other hand, Bill Morgan, a lawyer and digital asset enthusiast, brings a different viewpoint, mainly focusing on XRPL token. Addressing recent market volatility, Morgan emphasizes the importance of a long-term perspective when analyzing XRP’s price action. Responding to crypto community concerns about XRP’s performance, especially during heightened market movements, Morgan argues that convictions about the token should go “beyond short-term price fluctuations.” Related Reading: Crypto Founder Predicts XRP Price Will Hit $22, Here\u2019s When Morgan’s stance is echoed by Matt, the Moon Lambo YouTube channel host, who points out that XRP’s price drop was not as severe as some in the crypto community perceived. Matt’s analysis places XRP at a moderate position among the top 50 coins by market cap in terms of gains and losses. This is correct but placed in the context of XRP\u2019s price action over the last month it is not great. XRP is down over 2% over the last month. Many but not all top 50 coins are up over the last month. In that context the fall was harder comparatively than could have been expected\u2026 https:\/\/t.co\/VrlD2k0mWu \u2014 bill morgan (@Belisarius2020) December 19, 2023 However, Morgan notes that the token’s performance over the past month has been lackluster, falling by over 2% despite a market-wide rally. This observation suggests that XRP’s decline was more pronounced than that of some of its peers, warranting a closer examination of its market dynamics. Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":566038,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[134,6664,12220,4531,87304,78763],"class_list":["post-566037","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-altcoin","tag-crypto","tag-xlm","tag-xrp","tag-xrp-analysis","tag-xrpusdt"],"acf":[],"yoast_head":"\nXRP And XLM In Lockstep? Expert Sheds Light On Their Surprising Price Synchronization<\/title>\n<meta name=\"description\" content=\"Recently, a notable observation has been the significant correlation in the price movements of XRP and XLM. 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Expert Sheds Light On Their Surprising Price Synchronization"}]},{"@type":"WebSite","@id":"https:\/\/wncen.com\/#website","url":"https:\/\/wncen.com\/","name":"NewsBTC","description":"Bitcoin & Cryptocurrency News Today","publisher":{"@id":"https:\/\/wncen.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/wncen.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/wncen.com\/#organization","name":"NewsBTC","url":"https:\/\/wncen.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/wncen.com\/#\/schema\/person\/d19b5f18d945fb75e71771134d0e2500","name":"Samuel Edyme","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","caption":"Samuel Edyme"},"description":"Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP And XLM In Lockstep? 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