Why XRP Price Is Down Today? Ripple Lawyer Bill Morgan Reveals the Truth
The post Why XRP Price Is Down Today? Ripple Lawyer Bill Morgan Reveals the Truth appeared first on Coinpedia Fintech News
XRP’s recent dip has left many traders scratching their heads. However, according to lawyer and XRP advocate Bill Morgan, the explanation is straightforward: XRP remains in sync with Bitcoin.
He added that Ripple’s own expert evidence in its lawsuit with the U.S. Securities and Exchange Commission (SEC) supports this correlation.
XRP Follows Bitcoin’s Lead
Morgan dismissed the idea that positive news about Ripple or XRP had any significant impact on the price.
The statement triggered playful replies from the community. When one user asked if XRP could “carry Bitcoin on its back,” Morgan’s blunt answer was: “No.”
Can XRP Break Free From Bitcoin’s Shadow?
The discussion soon shifted to a bigger question: can XRP ever decouple from Bitcoin’s influence? Some suggested creative ideas, like tokenizing Bitcoin on the XRP Ledger.
Morgan didn’t entertain these theories, instead doubling down on his point that XRP’s price patterns are “well-documented” and even used in Ripple’s defense against the SEC.
Others compared Bitcoin’s dominance to Apple’s role in the stock market, arguing it doesn’t make sense for one asset to dictate the fate of so many others.
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The Market’s Bitcoin Dependence
The frustration is clear among altcoin investors. Even those who avoid Bitcoin find their portfolios rising and falling in line with it.
One user asked why the majority of investors still allocate “90% to Bitcoin and just 10% to everything else.”
Morgan’s answer was straightforward: like it or not, Bitcoin continues to lead the market. Until that changes, XRP and most altcoins will keep “playing follow the leader.”
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FAQs
While some believe XRP can decouple, historical data and Ripple’s own expert evidence in its SEC lawsuit show a well-documented strong correlation between XRP and Bitcoin’s price patterns.
According to lawyer Bill Morgan, positive news about Ripple or XRP does not significantly change the token’s price direction, as it continues to primarily follow Bitcoin’s lead.
The correlation between XRP and Bitcoin is strong, meaning their prices tend to move in the same direction. When Bitcoin’s price falls, XRP and most other altcoins typically follow suit.
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