Pro-XRP lawyer Bill Morgan has often said that XRP’s price is strongly linked to Bitcoin, acting as a “follower” to market leader movements. This view has put him into a controversy.
Responding to critics, Morgan said, “For those who keep insulting me for saying XRP follows Bitcoin, I am referring to correlation.”
He further explained what he actually meant.
According to Bill Morgan’s recent comments, XRP price action remains strongly linked with Bitcoin price moves. However, he said this does not mean XRP copies every Bitcoin move exactly.
“The correlation coefficient between bitcoin price movement and XRP price movement is quite high, although it varies. It is a directional correlation which does not mean, for example, that if bitcoin price rises or falls by a specific percentage, the corresponding XRP move will be identical as a percentage.”
Morgan isn’t speaking in a vacuum. The data support his view.
Right now, the 90-day correlation between XRP and Bitcoin is 0.628. On a scale where 1.0 means both move the same, this is a strong connection.
From 2020 to 2024, this number stayed between 0.5 and 0.8 during different market cycles, showing that the link between XRP and Bitcoin has remained strong in recent years.
He also explained something many XRP holders feel in their portfolios but rarely see explained this clearly.
“XRP’s higher volatility for different reasons means correlated downward moves are often sharper and longer-lasting for XRP, while upside moves require stronger catalysts and are often less pronounced. This has generally seen XRP price fall against bitcoin over time with occasional sharp spikes in favour of XRP.”
Looking at past data, when Bitcoin falls 10%, XRP often drops even more, sometimes around 1.55 times deeper.
Recent market moves show this clearly. When Bitcoin fell from its ATH of $126,000 to $80,000 in late 2025, XRP dropped from around $3.40 to $1.80, a 46% drop compared to Bitcoin’s 37%.
The same happened again in early 2026, when Bitcoin slid from $80,000 to $60,000, while XRP fell from $1.85 to $1.11, losing 40% while Bitcoin lost about 25%.
Lastly, Morgan also addressed the ongoing debate over whether XRP’s monthly escrow releases heavily impact its price. He rejected this idea, saying there is little evidence to support it.
Instead, he believes overall market trends, especially Bitcoin’s movement, play a much bigger role.
AS of now, XRP price is trading around $1.37, reflecting a 0.27% rise seen in the last 24 hours, while Bitcoin made a jump of 2% in the same period.
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