Bitcoin

<ul class="news-points"> 
 <li><strong>XRP’s potential retest of $0.70 depends on BTC, according to one analyst.</strong></li> 
 <li><strong>There has been a strong correlation between XRP and BTC in the last three months.</strong></li> 
 <li><strong>If the current buying momentum continues, XRP may rise above the resistance at $0.65.</strong></li> 
</ul> 
<p>Digital asset analyst Bill Morgan, claimed in a recent post on X that <a href="https://coinedition.com/xrp-is-breaking-out-of-a-descending-parallel-channel-analyst/">Ripple’s (XRP)</a> potential rise above $0.70 largely hinges on the movement of <a href="https://coinedition.com/bitcoin-investor-says-87-of-all-bitcoins-are-in-profit/">Bitcoin (BTC)</a>. Morgan’s opinion was in response to a chart shared by pseudonymous trader Guy on the Earth who predicted that XRP may soon flip $0.70, and head in the $0.80 direction.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Depends on Bitcoin price movement as always <a href="https://t.co/Sa8wi57uBx" target="_blank" rel="nofollow">https://t.co/Sa8wi57uBx</a></p>— bill morgan (@Belisarius2020) <a href="https://twitter.com/Belisarius2020/status/1727827429744685433?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">November 23, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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</figure> 
<p>At press time, XRP’s price was $0.62, following a 2.21% increase in the last 24 hours. BTC, on the other hand, maintained its hold above $37,300. Meanwhile, Morgan’s post about XRP’s dependence on Bitcoin could be valid. This is because of the strong correlation between the two cryptocurrencies.</p> 
<h2 class="wp-block-heading" id="h-xrp-follows-btc"><strong>XRP follows BTC</strong></h2> 
<p>According to wealth management platform Macroaxis, the <a href="https://www.macroaxis.com/invest/pair-correlation/XRP.CC/BTC.CC/XRP-vs-Bitcoin" target="_blank" rel="nofollow">90-day correlation coefficient</a> between BTC and XRP was 0.9. Values of this coefficient range from -1…</p>
<p>The post <a href="https://coinedition.com/can-xrp-flip-0-70-bitcoin-likely-to-decide-data-suggest/">Can XRP Flip $0.70? Bitcoin Likely To Decide, Data Suggest</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

Can XRP Flip $0.70? Bitcoin Likely To Decide, Data Suggest

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