INJ / XRP ratio and spread
1 INJ = 6.198 XRP. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 0.434 and the correlation between the legs is 0.47.
If you hold INJ · If you hold XRP
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Key numbers
over 2200 daily candles
How each of these is computed: regression spread, hedge ratio, spread z-score, half-life, correlation.
What the numbers say
The legs move together only moderately — correlation of daily log returns is 0.47, with a hedge ratio of 0.43. Signals from this pair carry more noise than on a tightly linked one.
The spread is at 1.84 standard deviations from its rolling mean: away from the norm, but not far enough to call it stretched.
Reversion is slow: the spread needs roughly 213 days to cover half the way back to its mean. A position would have to be held for a long time.
The current ratio sits near the bottom of its range — only 6% of the way from the low to the high of the last 2200 daily candles.
When this happened before
Divergences over 2021 candles: 12. Closed by a return to the norm: 11. The median return took 92 days, the longest one 197 days.
The last closed one ran from 23.05.2026 to 15.08.2026, 84 days: peak z = 3.17, INJ was expensive against XRP.
One is running right now: it started on 20.09.2026, has lasted 39 days, peak z = 2.42, INJ was expensive against XRP. It has not returned to the norm yet.
For a holder this answers not “what to do” but “how long it usually took”: the median return is 92 days. That is no guarantee — past divergences closed, this one may not.
| Period | Expensive leg | Peak z | Return |
|---|---|---|---|
| 23.05.2026 — 15.08.2026 | INJ | 3.17 | 84 d |
| 10.10.2025 — 25.04.2026 | XRP | -3.51 | 197 d |
| 09.12.2024 — 10.05.2025 | XRP | -3.56 | 152 d |
| 17.06.2024 — 23.09.2024 | XRP | -3.05 | 98 d |
| 22.10.2023 — 02.04.2024 | INJ | 5.00 | 163 d |
A divergence here is the spread z-score leaving ±2σ; the return is the first value back inside ±0.5σ. Two thresholds rather than one: otherwise chatter right at the border would count as a dozen separate divergences. The first bars of the window are skipped — there z is computed on partial history.
Frequently asked
How many XRP is 1 INJ?
1 INJ is worth 6.19838 XRP at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the INJ/XRP range?
Over the last 2200 daily candles the ratio traded between 1.81266 (28.11.2020) and 78.1909 (09.01.2024).
Are INJ and XRP correlated?
The correlation of daily log returns between INJ and XRP is 0.47, which counts as a moderate link. Log returns are used rather than prices: two rising assets correlate almost by default, joint day-to-day movement is what matters.
What is the INJ/XRP spread z-score now?
The z-score is 1.84 — the spread is within its usual range. It measures how far the regression residual log(A) − β·log(B) sits from its rolling mean, in standard deviations.
Is INJ/XRP suitable for a pair trade?
The mechanics hold up: correlation is 0.47 and the spread historically covers half the way back to its mean in about 213 days. That is a description of past behaviour, not a forecast or a recommendation.
How often do INJ and XRP diverge?
Over 2021 daily candles the spread left ±2σ 12 times. The median return to the norm took 92 days.
Related pairs
Other pairs sharing a leg with this one.
All figures are computed from exchange data and describe past behaviour. Nothing here is investment advice.