Why Do XRP and XLM Move in Lockstep? The Mystery Deepens

Why Do XRP and XLM Move in Lockstep? The Mystery Deepens

Feb 19 Tech Standard

XRP and XLM, two prominent cryptocurrencies, have been puzzling everyone with their eerily similar price movements. Theories flew, from Ripple burning tokens to market manipulation, but Ripple CTO David Schwartz offers a different perspective.

He points to Stellar's token burn as a failed attempt to influence price and suggests it might be contributing to the XRP-XLM correlation instead. But what's the real driver?

Schwartz admits the cause remains elusive, suggesting it could be external factors impacting both coins or simply market perception grouping them together. He throws in two possibilities XRP's larger size "dragging" XLM or someone manipulating both prices.

While definitive answers remain elusive, Schwartz's insights shed light on the complexity of the situation. Shared history, market dynamics, and investor perception likely play a role, making a single explanation unlikely. The mystery continues, but the search for answers sheds light on the intricate web of forces influencing crypto markets.


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