{"id":569116,"date":"2024-01-11T22:00:59","date_gmt":"2024-01-11T22:00:59","guid":{"rendered":"https:\/\/uniquehot.com\/?p=569116"},"modified":"2024-06-11T08:33:54","modified_gmt":"2024-06-11T08:33:54","slug":"xrp-and-xlm-price-ripple-cto","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/xrp-and-xlm-price-ripple-cto\/","title":{"rendered":"XRP And XLM Price Correlation Persists, Ripple CTO Explains Why"},"content":{"rendered":"

XRP and Stellar (XLM) are two cryptocurrencies that have been constantly compared in terms of price growth and development. Both digital assets are dedicated to facilitating <\/span>cross-border transactions<\/span><\/a>.\u00a0<\/span><\/p>\n

Given their considerable similarities, the Chief Technology Officer (CTO) of Ripple, <\/span>David Schwartz<\/span><\/a> has attempted to uncover the factors contributing to the persistent price correlations between the cryptocurrencies.\u00a0<\/span><\/p>\n

Ripple CTO Explores XRP And XLM Price Trends<\/h2>\n

Schwartz has recently taken to <\/span>X<\/span><\/a> (formerly Twitter) to share a chart illustrating a strong correlation in the price movements and patterns between XRP and XLM tokens. In response to an <\/span>X user<\/span><\/a> who expressed curiosity regarding the similar price trends between the two cryptocurrencies, Schwartz explained the distinct reasons behind XRP and XLM\u2019s unique price movements.\u00a0<\/span><\/p>\n

Related Reading: Renowned Finance Author Says Bitcoin Price Is Headed For $150,000, Reveals Catalyst<\/a><\/div>\n

The Ripple CTO acknowledged that he lacked an accurate explanation for the <\/span>price correlations between XRP and XLM<\/span><\/a>. However, he provided two major factors that could be influencing the price trends.\u00a0<\/span><\/p>\n

Schwartz revealed that comparable market forces that regulate various cryptocurrencies also control XRP and XLM. He further stated that most investors and crypto enthusiasts often place XRP and XLM within the same category due to the cryptocurrencies\u2019 historical connection.<\/span><\/p>\n

\u00a0As a result, a significant number of people simultaneously engage in buying and selling <\/span>XRP and XLM<\/span><\/a> causing the cryptocurrencies to have similar price movements.\u00a0<\/span><\/p>\n

Concluding his analysis, Schwartz stated that he believed there were no <\/span>market manipulations<\/span><\/a> or external \u201cevil forces\u201d making these cryptocurrencies display similar price trends.\u00a0<\/span><\/p>\n

\"XRP<\/p>\n

Bulls resume control of price | Source: XRPUSD on Tradingview.com<\/a><\/pre>\n
Latest Developments For Both Assets<\/h2>\n
XRP and XLM are one of the major cryptocurrencies that have gained significant attention, often seen as the leading contenders for cross-border payments and mainstream adoption.\u00a0<\/span><\/p>\n
While these two cryptocurrencies tend to display similar price tracks, they have been experiencing vastly different developments in their respective markets and ecosystems.\u00a0<\/span><\/p>\n
Related Reading: Cardano Price Explosion: Crypto Analyst Predicts ADA Price To Hit $6<\/a><\/div>\n
XRP recently gained regulatory clarity after successfully <\/span>gaining a victory<\/span><\/a> in its ongoing legal battle with the United States Securities and Exchange Commission (SEC). Despite speculations suggesting that XLM might be the SEC\u2019s next target due to its striking similarities with XRP, the cryptocurrency has not encountered similar legal issues in the US as Ripple.\u00a0<\/span><\/p>\n
Following XRP\u2019s partial legal success, the price of XRP surged considerably. While XLM followed behind <\/span>increasing by almost 90%<\/span><\/a> but retraced some of the accumulated gains later.\u00a0<\/span><\/p>\n
In terms of expansion, XRP has achieved multiple milestones and has gained approvals in several regions including <\/span>Dubai<\/span><\/a>. The cryptocurrency is positioned to gain from Ripple\u2019s potential integration into <\/span>trillion-dollar markets<\/span><\/a> and industries.<\/span><\/p>\n
On the other hand, Stellar (XLM) is improving its ecosystem by integrating a new <\/span>testnet upgrade<\/span><\/a>, Protocol 20. The cryptocurrency is also actively seeking <\/span>new partnerships<\/span><\/a> with banks to expand its reach and utility.<\/span><\/p>\n
Featured image from Coinmarketcap, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
XRP and Stellar (XLM) are two cryptocurrencies that have been constantly compared in terms of price growth and development. Both digital assets are dedicated to facilitating cross-border transactions.\u00a0 Given their considerable similarities, the Chief Technology Officer (CTO) of Ripple, David Schwartz has attempted to uncover the factors contributing to the persistent price correlations between the cryptocurrencies.\u00a0 Ripple CTO Explores XRP And XLM Price Trends Schwartz has recently taken to X (formerly Twitter) to share a chart illustrating a strong correlation in the price movements and patterns between XRP and XLM tokens. In response to an X user who expressed curiosity regarding the similar price trends between the two cryptocurrencies, Schwartz explained the distinct reasons behind XRP and XLM\u2019s unique price movements.\u00a0 Related Reading: Renowned Finance Author Says Bitcoin Price Is Headed For $150,000, Reveals Catalyst The Ripple CTO acknowledged that he lacked an accurate explanation for the price correlations between XRP and XLM. However, he provided two major factors that could be influencing the price trends.\u00a0 Schwartz revealed that comparable market forces that regulate various cryptocurrencies also control XRP and XLM. He further stated that most investors and crypto enthusiasts often place XRP and XLM within the same category due to the cryptocurrencies\u2019 historical connection. \u00a0As a result, a significant number of people simultaneously engage in buying and selling XRP and XLM causing the cryptocurrencies to have similar price movements.\u00a0 Concluding his analysis, Schwartz stated that he believed there were no market manipulations or external \u201cevil forces\u201d making these cryptocurrencies display similar price trends.\u00a0 Bulls resume control of price | Source: XRPUSD on Tradingview.com Latest Developments For Both Assets XRP and XLM are one of the major cryptocurrencies that have gained significant attention, often seen as the leading contenders for cross-border payments and mainstream adoption.\u00a0 While these two cryptocurrencies tend to display similar price tracks, they have been experiencing vastly different developments in their respective markets and ecosystems.\u00a0 Related Reading: Cardano Price Explosion: Crypto Analyst Predicts ADA Price To Hit $6 XRP recently gained regulatory clarity after successfully gaining a victory in its ongoing legal battle with the United States Securities and Exchange Commission (SEC). Despite speculations suggesting that XLM might be the SEC\u2019s next target due to its striking similarities with XRP, the cryptocurrency has not encountered similar legal issues in the US as Ripple.\u00a0 Following XRP\u2019s partial legal success, the price of XRP surged considerably. While XLM followed behind increasing by almost 90% but retraced some of the accumulated gains later.\u00a0 In terms of expansion, XRP has achieved multiple milestones and has gained approvals in several regions including Dubai. The cryptocurrency is positioned to gain from Ripple\u2019s potential integration into trillion-dollar markets and industries. On the other hand, Stellar (XLM) is improving its ecosystem by integrating a new testnet upgrade, Protocol 20. The cryptocurrency is also actively seeking new partnerships with banks to expand its reach and utility. Featured image from Coinmarketcap, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":569123,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,16894,83376,83363],"tags":[3680,89421,17209,89988,87152,16425,4531,13172,10972,78763],"class_list":["post-569116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ripple","category-xlm","category-xrp","tag-ripple","tag-ripple-cto","tag-ripple-news","tag-xlm-news","tag-xlm-price","tag-xlmusd","tag-xrp","tag-xrp-price","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\nXRP And XLM Price Correlation Persists, Ripple CTO Explains Why<\/title>\n<meta name=\"description\" content=\"XRP and Stellar (XLM) are two cryptocurrencies that have been constantly compared in terms of price growth and 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP And XLM Price Correlation Persists, Ripple CTO Explains Why","url":"http:\/\/uniquehot.com\/news\/xrp-and-xlm-price-ripple-cto\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/xrp-and-xlm-price-ripple-cto\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/XRP-XLM-Ripple.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/XRP-XLM-Ripple.jpeg?fit=1170%2C658"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ripple","ripple cto","ripple news","xlm news","xlm price","xlmusd","xrp","xrp price","xrpusd","xrpusdt"],"dateCreated":"2024-01-11T22:00:59Z","datePublished":"2024-01-11T22:00:59Z","dateModified":"2024-06-11T08:33:54Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP And XLM Price Correlation Persists, Ripple CTO Explains Why\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/xrp-and-xlm-price-ripple-cto\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/xrp-and-xlm-price-ripple-cto\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/XRP-XLM-Ripple.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/XRP-XLM-Ripple.jpeg?fit=1170%2C658\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ripple\",\"ripple cto\",\"ripple news\",\"xlm news\",\"xlm price\",\"xlmusd\",\"xrp\",\"xrp price\",\"xrpusd\",\"xrpusdt\"],\"dateCreated\":\"2024-01-11T22:00:59Z\",\"datePublished\":\"2024-01-11T22:00:59Z\",\"dateModified\":\"2024-06-11T08:33:54Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/XRP-XLM-Ripple.jpeg?fit=1170%2C658","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/569116"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=569116"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/569116\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/569123"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=569116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=569116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=569116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}