Recently, it was announced that India based Koinex becomes first exchange in the world to start XRP Pairs. Japan Base SBI also is likely to start XRP based pairings as well as fiat based XRP pairs. Now the question arises whether such moves are likely to decrease correlations over time with numero uno Bitcoin.
Now let's look at why most cryptos are corelated with Bitcoin. Because simply, most cryptos are available largely as BTC pairs. Very few are available as pure fiat pairs. That’s also the case with XRP as well as ETH. Since these are paired with BTC, they are correlated to some extent with Bitcoin prices. Not to say that this correlation is always maintained over time. From time to time, this correlation breaks down especially when an altcoin outperforms Bitcoin
Now if XRP Fiat pairings increase more than corresponding BTC pairings, over time people will transact more and more in fiat for purchasing and selling XRP. That will result in the price movement of XRP acting relatively independent to price movement of Bitcoin. However the correlation structure will still exist to some extent irrespective of that since Bitcoin is still the Big Daddy and will remain so for the foreseeable future!
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I am the original author of this post, how can you indicate that I have copy pasted anything. This is my original work without any plagiarism. Please dont tag this as plagiarism
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I am the original author of this post as my blog post was posted on April 30. The possible source you are indicating has been posted on May 1st, which is a day later after my post.
That post has plagiarized my content and this is my original work. That post has plagiarized my content word to word. Please correct this discrepancy!
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I've removed the flag while we investigate further.
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Thank you very much Patrice. Really appreciate it!
Kindly investigate the post and your claimed source with their respective dates. Its my post that has been copied from, not the other way round.
Thank you once again!
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lets join buddy, i upvoted you
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This post has received a 2.09 % upvote from @booster thanks to: @cryptogem.
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This post has received a 7.88 % upvote from @boomerang.
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are you XRP's fan :D
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nice! upvoted :)
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