Wall Street Influence Continues... Will XRP Struggle to Become an Independent Asset?

▲ Ripple (XRP) ©

Contrary to expectations that XRP is an independent asset, research results show that it still moves influenced by Wall Street trends.

According to cryptocurrency media CryptoNews on April 27 (local time), a recently published academic study confirmed that the price of XRP (Ripple) heavily relies on traditional financial market signals such as stocks and bonds. The study analyzed information flow between assets based on daily data from 2018 to early 2026.

According to the research results, major macroeconomic indicators such as the G10 stock markets, 10-year government bond yields, and 5-year credit default swaps (CDS) were found to generate the strongest price signals. Cryptocurrencies, including XRP, often remained in the role of 'receiving' these signals, showing a clear tendency to lag rather than lead market direction.

The researchers explained this as an 'Information Flow' structure. Price pressures originating from stocks, bonds, and national risk indicators are formed first, and then this flow is repeatedly transmitted to the cryptocurrency market. This indicates that cryptocurrencies still maintain a high correlation with traditional finance.

The structure became even more apparent, especially during market crisis phases. National risk indicators such as CDS acted as key variables simultaneously influencing stock and cryptocurrency prices, and a shift in market leadership towards existing financial indicators was observed. The researchers analyzed that this trend intensifies during crisis situations.

This study also raises questions about the existing expectation that cryptocurrencies can act as 'safe-haven assets'. The researchers concluded that digital assets are not yet functioning as an independent asset class separate from traditional finance and are still largely influenced by changes in the global financial environment.

Ultimately, XRP has not been able to sever its ties with Wall Street in its price formation structure, independent of its increasing adoption. Contrary to expectations that its independence would strengthen as the market grows, analysis suggests that it currently maintains the characteristic of an 'extended risk asset' that follows the trends of traditional finance.

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