{"id":610007,"date":"2024-05-27T12:00:17","date_gmt":"2024-05-27T12:00:17","guid":{"rendered":"https:\/\/wncen.com\/?p=610007"},"modified":"2024-06-11T07:09:08","modified_gmt":"2024-06-11T07:09:08","slug":"ripple-cto-price-link-xrp-xlm","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/ripple-cto-price-link-xrp-xlm\/","title":{"rendered":"Ripple CTO Addresses Curious Price Link Between XRP And XLM"},"content":{"rendered":"

In an exchange on X, Ripple<\/a>‘s Chief Technology Officer (CTO), David Schwartz, also known as JoelKatz, responded to queries about the strikingly similar price movements of XRP and Stellar (XLM). This discussion has brought to light not just the intertwined market dynamics of these two major cryptocurrencies but also the complex factors influencing their valuation.<\/p>\n

Curious Correlation Between XRP And XLM<\/h2>\n

Schwartz candidly addressed a post by Good Morning Crypto, who highlighted<\/a> a long-term price chart comparison between XRP and XLM since 2014, questioning the “unnatural price symmetry” and the potential for both to “breakout together during this bull run.” Schwartz replied<\/a>, “I genuinely don’t know. The thing that I think is most likely is that both prices are driven primarily by factors completely outside their ecosystems.”<\/p>\n

Related Reading: Ready For Liftoff: XRP Price Primed To Skyrocket Before November<\/a><\/div>\n

However, Schwartz also acknowledged conflicting evidence to his theory. When pressed for specifics regarding the unusual correlation, he pointed to the significant event of Stellar burning half of their token supply, which surprisingly did not impact their price or disrupt the price correlation pattern with XRP. “The one bit that’s the most convincing to me is that Stellar burned half their supply and there wasn’t so much as a blip on their price chart or any real deviation from XRP’s price correlation,” Schwartz explained.<\/p>\n

This dialogue underscores a broader narrative<\/a> within the cryptocurrency sector, where XRP and XLM share not only a founder in Jed McCaleb<\/a> but also similar technological frameworks aimed at streamlining cross-border payments. Despite these overlaps, the absence of a price impact post-Stellar\u2019s token burn has been a particularly puzzling aspect for analysts and the crypto community alike.<\/p>\n

Both XRP and XLM have historically mirrored each other’s price movements, potentially due to overlapping use cases, investor behaviors, and market perceptions. As financial tools facilitating quick, cross-border transactions with minimal fees, both have attracted similar investor bases looking for alternatives to traditional banking hurdles.<\/p>\n

Related Reading: XRP Price Consolidates, Gearing Up for Its Next Major Breakout<\/a><\/div>\n

Market sentiment plays a significant role. News impacting one of the cryptos can quickly spill over to the other due to their perceived substitutability. Additionally, regulatory shifts in one can inadvertently sway investor sentiment towards the other.<\/p>\n

Popular pro-XRP lawyer Bill Morgan commented<\/a> on this, \u201cI don\u2019t know what causes it but it shows how useless Ripple burning the escrow would be. Stellar burned XLM and Ripple did not burn XRP and it had no impact on the symmetry. Same for the lawsuit. No impact overall. Stellar was not sued. Factors external to either blockchain and not specific to either Ripple or Stellar must be the explanation.\u201d<\/p>\n

The ongoing debate includes speculation about whether XRP and XLM will jointly make significant gains in an anticipated bull run<\/a>. Historical price patterns suggest a high level of correlation, but as Schwartz indicates, external factors such as global market conditions and macroeconomic factors<\/a> are likely at play.<\/p>\n

At press time, XRP price stood at $0.5282.<\/p>\n

\"XRP
XRP price hovers below the trend line, 1-week chart | Source: XRPUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image created with DALL\u00b7E, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

In an exchange on X, Ripple‘s Chief Technology Officer (CTO), David Schwartz, also known as JoelKatz, responded to queries about the strikingly similar price movements of XRP and Stellar (XLM). This discussion has brought to light not just the intertwined market dynamics of these two major cryptocurrencies but also the complex factors influencing their valuation. Curious Correlation Between XRP And XLM Schwartz candidly addressed a post by Good Morning Crypto, who highlighted a long-term price chart comparison between XRP and XLM since 2014, questioning the “unnatural price symmetry” and the potential for both to “breakout together during this bull run.” Schwartz replied, “I genuinely don’t know. The thing that I think is most likely is that both prices are driven primarily by factors completely outside their ecosystems.” Related Reading: Ready For Liftoff: XRP Price Primed To Skyrocket Before November However, Schwartz also acknowledged conflicting evidence to his theory. When pressed for specifics regarding the unusual correlation, he pointed to the significant event of Stellar burning half of their token supply, which surprisingly did not impact their price or disrupt the price correlation pattern with XRP. “The one bit that’s the most convincing to me is that Stellar burned half their supply and there wasn’t so much as a blip on their price chart or any real deviation from XRP’s price correlation,” Schwartz explained. This dialogue underscores a broader narrative within the cryptocurrency sector, where XRP and XLM share not only a founder in Jed McCaleb but also similar technological frameworks aimed at streamlining cross-border payments. Despite these overlaps, the absence of a price impact post-Stellar\u2019s token burn has been a particularly puzzling aspect for analysts and the crypto community alike. Both XRP and XLM have historically mirrored each other’s price movements, potentially due to overlapping use cases, investor behaviors, and market perceptions. As financial tools facilitating quick, cross-border transactions with minimal fees, both have attracted similar investor bases looking for alternatives to traditional banking hurdles. Related Reading: XRP Price Consolidates, Gearing Up for Its Next Major Breakout Market sentiment plays a significant role. News impacting one of the cryptos can quickly spill over to the other due to their perceived substitutability. Additionally, regulatory shifts in one can inadvertently sway investor sentiment towards the other. Popular pro-XRP lawyer Bill Morgan commented on this, \u201cI don\u2019t know what causes it but it shows how useless Ripple burning the escrow would be. Stellar burned XLM and Ripple did not burn XRP and it had no impact on the symmetry. Same for the lawsuit. No impact overall. Stellar was not sued. Factors external to either blockchain and not specific to either Ripple or Stellar must be the explanation.\u201d The ongoing debate includes speculation about whether XRP and XLM will jointly make significant gains in an anticipated bull run. Historical price patterns suggest a high level of correlation, but as Schwartz indicates, external factors such as global market conditions and macroeconomic factors are likely at play. At press time, XRP price stood at $0.5282. Featured image created with DALL\u00b7E, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":610008,"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":[15951,3680,89421,92419,12220,4531,13172,15883],"class_list":["post-610007","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-david-schwartz","tag-ripple","tag-ripple-cto","tag-stellar-lumen","tag-xlm","tag-xrp","tag-xrp-price","tag-xrp-price-analysis"],"acf":[],"yoast_head":"\nRipple CTO Addresses Curious Price Link Between XRP And XLM<\/title>\n<meta name=\"description\" content=\"Ripple CTO David Schwartz responded to queries about the strikingly similar price movements of XRP and Stellar (XLM).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/wncen.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ripple CTO Addresses Curious Price Link Between XRP And XLM","url":"http:\/\/wncen.com\/news\/ripple\/ripple-cto-price-link-xrp-xlm\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ripple\/ripple-cto-price-link-xrp-xlm\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/DALL\u00b7E-2024-05-27-12.22.45-A-digital-artwork-featuring-two-cryptocurrency-coins-side-by-side-on-a-reflective-surface.-On-the-left-a-coin-displaying-the-exact-official-Ripple-X.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/DALL\u00b7E-2024-05-27-12.22.45-A-digital-artwork-featuring-two-cryptocurrency-coins-side-by-side-on-a-reflective-surface.-On-the-left-a-coin-displaying-the-exact-official-Ripple-X.png?fit=1792%2C1024"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["david schwartz","ripple","ripple cto","stellar lumen","xlm","xrp","xrp price","xrp price analysis"],"dateCreated":"2024-05-27T12:00:17Z","datePublished":"2024-05-27T12:00:17Z","dateModified":"2024-06-11T07:09:08Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ripple CTO Addresses Curious Price Link Between XRP And XLM\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/ripple-cto-price-link-xrp-xlm\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/ripple-cto-price-link-xrp-xlm\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/DALL\\u00b7E-2024-05-27-12.22.45-A-digital-artwork-featuring-two-cryptocurrency-coins-side-by-side-on-a-reflective-surface.-On-the-left-a-coin-displaying-the-exact-official-Ripple-X.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/DALL\\u00b7E-2024-05-27-12.22.45-A-digital-artwork-featuring-two-cryptocurrency-coins-side-by-side-on-a-reflective-surface.-On-the-left-a-coin-displaying-the-exact-official-Ripple-X.png?fit=1792%2C1024\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"david schwartz\",\"ripple\",\"ripple cto\",\"stellar lumen\",\"xlm\",\"xrp\",\"xrp price\",\"xrp price analysis\"],\"dateCreated\":\"2024-05-27T12:00:17Z\",\"datePublished\":\"2024-05-27T12:00:17Z\",\"dateModified\":\"2024-06-11T07:09:08Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/DALL\u00b7E-2024-05-27-12.22.45-A-digital-artwork-featuring-two-cryptocurrency-coins-side-by-side-on-a-reflective-surface.-On-the-left-a-coin-displaying-the-exact-official-Ripple-X.png?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/610007"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=610007"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/610007\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/610008"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=610007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=610007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=610007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}