On the 11th, technical analyst Peter Brandt, who is famous in the virtual currency industry and living in the United States, spoke on the future of Bitcoin (BTC) and the price of virtual currency ripple (XRP), which ranks third in the market capitalization.
— Peter Brandt (@PeterLBrandt) July 11, 2019
In his official Twitter, he seems to think that a crash in bitcoin prices could similarly drag down other altcoins as well.
If $BTC has intermediate correction then $XRP will go to $.1600
Peter Brandt, a veteran technical trader also stressed:
If current parabolic phase is violated, we could expect either an 80% correction of 7-month advance or much smaller correction w/ definition of new parabola w/ shallower slope.
At the moment, it is unclear if the XRP price would really plunge down to $ 0.16 when the bitcoin price crashes. However, there is a good chance that the virtual currency market as a whole will plunge into a downtrend, including the XRP price, when the bitcoin price falls sharply.