Bitcoin
XRP officially decouples from Bitcoin – TradingView News
Ripple-affiliated cryptocurrency XRP managed to detach itself from Bitcoin, the largest digital asset by market value, after months of underperformance.
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It is now on track to record the biggest rise against Bitcoin since March 11. At that time, it soared an impressive 13% against the leading cryptocurrency in a single day.
Despite XRP’s recent gains, it’s worth noting that the Ripple-affiliated cryptocurrency is still down more than 70% against Bitcoin since last August. This makes it one of the worst-performing alternative cryptocurrencies in this bull market. That said, XRP’s underperformance may not be as bad as it first appears, given that there was a huge rally following Ripple’s legal victory in July 2023, before retracing its gains.
While it’s not immediately clear why XRP is suddenly leaving Bitcoin in the dust, recent developments in the SEC v. Ripple may explain this bullish sentiment. As reported by U.Today, Ripple cited the Terraform Labs case to argue against exorbitant penalties and fines requested by the SEC. The case is expected to reach the long-awaited resolution in the near future.
Additionally, the company is preparing to enter the stablecoin market with its own dollar-backed cryptocurrency Ripple (RLUSD). While Ripple’s pivot to the stablecoin market was initially portrayed as a bearish development for XRP by some analysts, company executives were quick to dismiss such concerns.
Best performing coin in the top 100
According to data provided by cryptocurrency tracking service CoinGecko, XRP is currently the best-performing cryptocurrency in the top 100. In fact, it is the only token in the green next to Tron. 
Meanwhile, the meme coin sector is being hit particularly hard, with Bonk (BONK) and FLOKI plummeting nearly 10%.