According to pro-XRP lawyer Bill Morgan, XRP and Bitcoin show a 90-day correlation of 0.628, indicating strong directional correlation despite different percentage movements. Morgan clarified that correlation does not mean XRP replicates Bitcoin’s exact percentage moves, but rather follows its directional trend. The correlation coefficient has remained between 0.5 and 0.8 from 2020 to 2024 across market cycles.
Morgan also highlighted XRP’s higher volatility, noting that when Bitcoin declines 10%, XRP often drops approximately 1.55 times deeper. Recent examples include late 2025, when Bitcoin fell from $126,000 to $80,000 (37% decline) while XRP dropped from $3.40 to $1.80 (46% decline). Morgan rejected claims that monthly escrow releases significantly impact XRP price, arguing that Bitcoin’s overall market movement plays a much larger role in driving XRP price behavior.
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