Why is
$XRP Selling Off Despite Bullish On-Chain Data?
Despite strong fundamentals,
$XRP has slipped to a 9-month low near $1.60. The on-chain signals look incredibly bullish: Real World Asset (RWA) TVL is up 11% in the last 30 days to a record $235M, and Ripple continues to expand its global licensing.
So, what's the issue? The market structure is being completely dominated by Bitcoin.
$XRP ’s correlation with BTC sits at a staggering 0.998. This means Bitcoin's volatility is overpowering all positive catalysts for XRP. Until
$BTC stabilizes, institutional inflows for alts may remain suppressed, keeping downside pressure on the price.
Verdict: Bearish in the short term, until the BTC correlation breaks.
#XRP #bitcoin #MarketSignal #CryptoAnalysis