The financial markets are witnessing an interesting divergence.

XRP, one of the leading crypto assets, posted a notable gain today, while NVIDIA (NVDA), the powerhouse of AI and chip technology, is nursing a 7.82% drop.

The contrasting moves have sparked discussions on whether crypto assets and traditional stocks are decoupling. Dom Kwok, a former Goldman Sachs banking analyst, highlighted this trend in a tweet. He referred to XRP and NVDA as two of the biggest “bellwethers” in their respective markets.

His observation suggests that while the broader stock market, particularly tech-related equities, faced downward pressure, crypto assets like XRP demonstrated resilience and upward momentum following the latest bloodbath.

two of the biggest crypto vs stock bellwethers decoupling.$XRP vs $NVDA pic.twitter.com/qxwKVjgF3k

— Dom (Bull/ish) | EasyA (@dom_kwok) April 3, 2025

Notably, XRP’s recent price movement came after yesterday’s bearish storm, which saw prices dip under $2 to $1.96. However, at press time, XRP has rebounded by 6.12%, nearing $2.10. Likewise, Bitcoin, which dropped to $81K, has recovered to above $83K at press time.

The Thursday crash in the crypto market followed the U.S. government’s recent tariff implementations, which sent the U.S. stock market tumbling.

Notably, Apple’s AAPL plummeted by 9.25% on Thursday, closing at $203.19. Amazon and Meta Platforms also saw significant drops, with shares falling 8.89%, while Nvidia’s stock plummeted by 7.8%, closing at $101.80.

While the crypto market mirrored this performance initially, a recovery is already underway, with XRP leading the charge.

Why is XRP Rising?

The turnaround in XRP may be attributed to a massive “buy-the-dip” campaign for investors who are looking to capitalize on XRP’s low prices. In addition, growing optimism surrounding a recent announcement by Coinbase may be contributing to this rebound.

Yesterday, Coinbase announced plans to list XRP futures contracts on April 21, 2025, after submitting a filing to the U.S. CFTC for approval. This move comes amid favorable legal developments for XRP, particularly following the SEC’s decision to drop its appeal in the Ripple case.

Coinbase will become the second U.S.-regulated platform to offer XRP futures after Bitnomial’s recent launch. The decision reflects a more positive regulatory atmosphere, partly due to new SEC leadership. 

Coinbase’s XRP futures will be available on Coinbase Derivatives, offering traders a regulated, capital-efficient way to gain exposure to XRP. This follows a previous 2023 launch of XRP perpetual futures for non-U.S. customers.