Analysis Shows XRP and BNB, Among Other Altcoins, Exhibiting Reduced Correlation with Bitcoin

By Newt Bettec Nov 28, 202340Views

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XRP & BNB Experience Decreased Correlation with Bitcoin

Recent data reveals that altcoins, particularly XRP and BNB, have been losing correlation with Bitcoin. The correlation indicator measures the relationship between the prices of two assets. A positive value indicates that the assets move in the same direction when responding to price changes, while negative values imply that the assets move in opposite directions. A correlation of 0% signifies no relationship between the prices of the assets. Currently, XRP has the lowest correlation with Bitcoin, making it a potential diversification option for investors looking to expand their portfolios.

XRP Price Movement

After briefly surpassing $0.63, XRP dropped below $0.60 but has since experienced a slight recovery and is approaching $0.61 once again.

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Newt Bettec

Newt Bettec emerges as an intellectual voyager at the intersection of crypto analysis, meticulous research, and editorial mastery. Within the digital labyrinth of cryptocurrencies, Newt's intellect traverses intricate corridors, resonating with seekers of diverse inclinations. His talent for unraveling complex threads of crypto intricacies seamlessly blends with his editorial finesse, transmuting intricacy into an engaging tapestry of understanding. A guiding star for both audacious explorers and curious neophytes journeying through the crypto galaxy, Newt's insights forge a compass for insightful decision-making amidst the ever-evolving universe of digital assets. With the precision of a wordsmith, they craft a narrative that enriches the evolving chronicle of the crypto cosmos.