In a significant shift from the typical cryptocurrency market narrative, Steven McClurg, CEO of Canary Capital, suggests that XRP is poised to chart its own course, potentially decoupling from Bitcoin's price movements. This perspective challenges the long-held belief that altcoins largely follow Bitcoin's lead, pointing towards a new era driven by practical utility rather than speculative fervor.
The Rise of Utility-Driven Assets: XRP and Hedera
McClurg highlights the growing importance of real-world enterprise use cases as a key differentiator for certain cryptocurrencies. He specifically identifies the XRP Ledger and Hedera as examples of networks that could benefit from increased corporate adoption and tokenization efforts. His argument posits that assets with clear utility, such as facilitating payment rails, tokenized assets, or stablecoin infrastructure, possess an inherent value that can provide stability when speculative momentum in the broader market wanes. While he doesn't foresee explosive growth for these assets, he predicts modest, low double-digit gains, signaling a more mature and fundamental-driven outlook.
A Cautious Outlook for Bitcoin's Near Future
Conversely, McClurg presents a more pessimistic forecast for Bitcoin. He claims the flagship cryptocurrency peaked on October 6, 2025, at an estimated $126,200, and has since experienced a substantial 35% decline to approximately $95,800. Looking ahead, McClurg anticipates a further price drop of 20-30% over the next six to nine months, potentially placing Bitcoin between $65,000 and $77,000 before the current cycle concludes. His analysis suggests that a new all-time high for Bitcoin is unlikely in 2026, indicating a deeper market correction is underway.
Relative Outperformance, Not Full Decoupling
Despite the optimism for XRP and other utility-focused altcoins, McClurg cautions that complete independence from Bitcoin remains rare and often temporary. While these assets might exhibit "relative outperformance"—meaning they could decline less or hold value better during a Bitcoin downturn—they are unlikely to experience dramatic price surges completely detached from the overall market sentiment. Historical data supports this, showing that liquidity tends to dry up across the board during significant Bitcoin sell-offs, impacting even fundamentally strong altcoins. Thus, while XRP may show resilience, a full separation from Bitcoin's broader market influence is a nuanced and often short-lived phenomenon.
