Follow Best Owie on X (formerly Twitter)<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from Guarda Wallet, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"On Monday, news quickly spread after a BlackRock XRP ETF filing popped up on the Delaware Corp. Commission website. The filing has since been claimed to be false. But the damage was already done as the token’s price surged quickly before reversing. One interesting development from this event though was a curious correlation that emerged between the XRP price and the XLM price at the time. While the news was localized to XRP, XLM had surged just as much, emerging with a stunning correlation between the two. XRP And XLM Correlation Balloons In the wake of the rumored BlackRock XRP ETF filing pumping the token\u2019s price, one enthusiast has noticed a significant correlation between XRP and XLM. Crypto analyst and educator Blockchain Backer took to X (formerly Twitter) to reveal what he terms as one of the \u201cmost bizarre\u201d moves. Related Reading: Analyst Predicts 8800% Ascent to $35 Cardano (ADA), Here\u2019s When The chart clearly shows the XLM price surging just as the BlackRock news broke with a straight green candle. Likewise, when the news was debunked and the XRP price began to fall, so did the XLM price, in an eerily similar fashion. In another post, Blockchain Backer revealed that XLM had followed XRP\u2019s move in the 2-second timeframe. A chart shared with this post showed XRP\u2019s movement and XLM\u2019s movement on the same chart and the moves happened at almost the same time, as shown below: Source: X \u201cThe fake news was literally XRP specific, and would impact XRP only, not XLM. If anything, you’d expect XLM sell off like the rest of the market. Instead, it mirrors. Why?\u201d the analyst wondered. XLM price retraces after pump | Source: XLMUSD on Tradingview.com Running A Similar Race XRP and XLM have always seemed to run in the same circles and the correlation in their price movements has been a testament to that. One X user, in response to Blockchain Backer\u2019s post, reasoned that the correlation was because both digital assets actually \u201cshare the same holders.\u201d One crypto analyst who has also closely tied the performance of XLM to that of XRP is Crypto Bilbuwoo. One of their long-running analysis includes both digital assets which the analyst expects to move toward new all-time highs in the same fashion. Related Reading: Top 5 Meme Coins That Are Outperforming The Altcoin Rally In an October 15 post, Crypto Bilbuwoo posited that \u201cThe chart shows that 1.618 Fibonacci ratio(XLM: 6.5$, XRP: 26~33$) will be completed at the end of December.\u201d The last time this happened was back in 2017 and the analyst expects a repeat of that trend, saying there would be a 6,500% surge for both assets. Despite this correlation, Blockchain Backer still finds Monday\u2019s simultaneous pump strange as he believes \u201cthose same holders would have dumped XLM for XRP. Not fomo bought XLM on that news story.\u201d However, as another X user explains, \u201cNot if they believe XLM and XRP are brother and sister. There are some influencers peddling this for years. Doesn\u2019t make logical sense but does with that narrative. XLM would be next!\u201d Follow Best Owie on X (formerly Twitter) for market insights, updates, and the occasional funny tweet\u2026 Featured image from Guarda Wallet, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":560591,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[85876,3,16894,83363],"tags":[7720,89215,89989,12220,89988,87152,16425,79498,4531,83637,13172,10972,78763],"class_list":["post-560583","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin","category-news","category-ripple","category-xrp","tag-blackrock","tag-blackrock-news","tag-blackrock-xrp-trust","tag-xlm","tag-xlm-news","tag-xlm-price","tag-xlmusd","tag-xlmusdt","tag-xrp","tag-xrp-news","tag-xrp-price","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\n
Stunning Correlation Emerges Between XRP And XLM, What\u2019s Going On?<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n