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Has XRP decoupled from Bitcoin? Is it due to immense pressure from manipulators?

Has XRP decoupled from Bitcoin? Is it due to immense pressure from manipulators?

Opinion: bitcoin, the first cryptocurrency, has had over ten years to grow. However, other altcoins did not have the liberty, due to which bitcoin exerts its dominance over almost all altcoins in the ecosystem, be it Ethereum, XRP, or Cardano. The price of altcoins generally tends to rise if bitcoin’s price surges rapidly. The same can be said about the downtrend as well, which is why altcoins are said to be coupled with bitcoin.

However, the recent buzz on crypto-twitter is that XRP is on the verge of decoupling from bitcoin. A Twitter user @XRPMOONSHINE tweeted:

“DO ME A FAVOR OPEN UP A BTC/USD CHART AND AN XRP/USD CHART. THEY HAVE DECOUPLED AND ARE MOVING DIFFERENTLY.”

In a very general sense, the comparison of the price change of XRP and BTC gives a crude understanding of whether the prices have actually decoupled or not. Hence, the daily chart attached below shows the price of BTC and XRP against the US Dollar and extends from August 2018 to April 2019. The price of XRP seems to be following a lag from the price of BTC and do not necessarily mean that it has decoupled.

However, there are timeframes where the price of XRP has moved completely unrelated to that of bitcoin. For example, the meteoric rise of XRP from September 18 to 22 was far higher than the price pump of BTC over the similar timeframe; but the drop of XRP from November 18 to December 16 was exactly the same as that of BTC’s.

Furthermore, XRPMOONSHINE suggested that XRP price was being manipulated. He tweeted:

“It is being manipulated to keep it from rising. For example look at XRP/BTC pair. Keeping it under the down sloping resistance from .80 in September. Thats what I mean by Suppressed, Although im expecting a fairly large move to the upside before 4/24/19.”

The “idea” of the price of XRP being manipulated is not unpopular within the XRP ecosystem as Peter Brandt, a famed trader, suggested the same in one of his tweets.

Brandt tweeted:

Conclusion

XRP may have started to decouple from bitcoin, but it surely hasn’t decoupled completely. The notion that XRP is being manipulated to keep its price below certain levels can also not be confirmed without proof.

The post Has XRP decoupled from Bitcoin? Is it due to immense pressure from manipulators? appeared first on AMBCrypto.

Published at Sun, 21 Apr 2019 09:43:48 +0000

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‘Borderline Fraud’ Bitcoin Cash Is ‘Less Secure’ – Max Keiser To CNBC

Keiser Report host and bitcoin proponent Max Keiser has told CNBC bitcoin Cash is “by definition less secure than bitcoin.”

Keiser Left Unimpressed At Ver’s CNBC Stunt

In a Twitter exchange following the appearance of bitcoin Cash’s Roger Ver on the network’s Fast Money segment, Keiser argued the bitcoin fork “eschews decentralization,” which is a “cornerstone” of bitcoin.

“Bottom Line: BitcoinCash (sic) is, by definition, less secure than bitcoin as it eschews decentralization; the cornerstone of TRUE bitcoin intent and design,” he wrote.

Additionally, use of the ‘bitcoin’ name in this instance is deceitful and borders on outright fraud.

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The comments came in response to CNBC its joining in the debate, questioning why both bitcoin and bitcoin Cash could not coexist simultaneously.

“Do they have to be mutually exclusive? Can’t they both be good? So much division in this world,” it wrote, describing the two chains’ opposition as “sad.”

‘Promoting A Scam’?

Ver continues to enjoy widespread publicity as a bitcoin commentator despite his recent switch to bitcoin Cash and public denouncing of the original bitcoin as a “cripple coin.”

Some of his comments have been especially contentious, these notably including criticism of speaker and educator Andreas Antonopoulos’ net worth in bitcoin.

Commenting on CNBC’s choice of guest meanwhile, Keiser said the network was not guilty of “promoting a scam” referring to Cash.

“Is CNBC culpable in promoting a scam? No, because they make no claims about veracity and integrity. The market is an amusing cockfight they cover – without journalistic standards – for bored hedge fund managers,” he retaliated, suggesting viewers instead watch his own Keiser Report for “informed bitcoin analysis.”

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bitcoin Cash continues to post relatively flat growth in the face of bitcoin’s rapid ascent to $17,000. Nonetheless, the project has a huge marketing presence on social media, with dedicated advocates appearing to infiltrate almost any discussion bringing up aspects of bitcoin’s current status.

What do you think about Max Keiser’s comments on bitcoin Cash? Let us know in the comments section below!

Images courtesy of Wikimedia commons, Twitter

The post ‘Borderline Fraud’ Bitcoin Cash Is ‘Less Secure’ – Max Keiser To CNBC appeared first on Bitcoinist.com.

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Bittrex-Backed Euro Stablecoin Can Be Staked for 8% Interest A group of six blockchain firms called Universal Protocol Alliance is launching a euro-pegged stablecoin next month. The alliance announced the news Thursday, saying that its “universal […]

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