XRP has followed Bitcoin during every major bull cycle to date, according to market commentator King Valex, who cited historical price data showing the two assets moving in step during broad market rallies.
Bitcoin is down about 5% year-to-date, while XRP has fallen nearly 10% over the same period. Valex said the current drawdown fits a familiar pattern in which XRP mirrors Bitcoin during market-wide moves.
Historical Data Shows XRP Tracking Bitcoin Rallies
Valex cited Bitcoin’s 2015–2017 bull run, when BTC surged from roughly $230 to nearly $20,000. During the same period, XRP climbed from around $0.0075 to its all-time high near $3.88 in early 2018.
The relationship repeated during the 2020–2021 cycle. As Bitcoin rose from approximately $13,000 to a peak near $69,000, XRP advanced from about $0.24 to nearly $2. Analysts widely attribute this failure to reclaim its 2018 high during that period to the SEC’s lawsuit against Ripple, which began in December 2020 and limited institutional participation.
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Most recently, Bitcoin’s rally from early 2024 into 2025 again coincided with a sharp XRP move, with the token gaining more than fivefold from its cycle low before pulling back alongside the broader market.
Valex said these repeated cycles show XRP has not decoupled from Bitcoin during major market expansions.
Analysts note that Bitcoin continues to set the direction for the wider crypto market. When BTC weakens, liquidity tends to leave altcoins, including XRP. When Bitcoin rallies, XRP has historically followed, often posting larger percentage gains due to its smaller market capitalization.
This dynamic has remained intact even as bullish long-term Bitcoin projections resurface, including renewed calls for a $1 million BTC price. Market watchers say that if Bitcoin enters another sustained uptrend, XRP is likely to move with it rather than break away.
Adoption Narratives Do Not Change Near-Term Correlation
Some supporters argue that adoption, not Bitcoin, will eventually drive the token’s price. Crypto educator Jesse, founder of Apex Crypto Academy, has said XRP’s value should be viewed through its role in cross-border payments and institutional settlement.
He has pointed to the scale of traditional finance, noting that central banks move more value in a single day than most blockchains process in a year. However, analysts caution that increased usage does not automatically lead to price appreciation, particularly when settlement systems are designed to minimize on-chain exposure.
Separately, institutional activity around the XRP Ledger has increased in Asia. Japanese financial commentator Yuto Kanzaki has pointed to early-stage discussions between Japan and South Korea on joint blockchain initiatives. No official announcements have been made.
Ripple has expanded its regional presence through the XRPL Japan and Korea Fund and growing validator participation. In South Korea, regulated virtual asset provider Infinite Block has joined the XRP Ledger as a validator. In Japan, SBI-backed SBI Holdings supports XRP services through SBI VC Trade.