Donald Trump

April

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 <li>A data from cryptocurrency futures trading and information platforms reveals that on Thursday, the Open Interest (OI) of XRP reached $3.44.</li> 
 <li>&nbsp;It was about $1.44 billion up from the $2 billion open interest XRP which was recorded in April 2021 at the time of a similar price rally.&nbsp;</li> 
 <li>In comparison with Bitcoin, the XRP relative strength or the XRP/BTC ratio is 0.00002375. It is 2.72% up after December 5 and 47.6% up in the last 30 days.&nbsp;</li> 
</ul> 
After XRP hit its yearly high on December 3, it has now dropped about 18%, but traders are still anticipating a robust rebound. A crypto analyst kept his opinion that the optimism of the traders can be tested if the dominance of Bitcoin carries on to increase.&nbsp; 
Pav Hundal, an analyst from the crypto exchange Swyftx stated that the actual threat in the current scenario for extremely leveraged <a href="https://news.todayq.com/xrp-surpassed-solana-and-tether-in-terms-of-market-cap/" target="_blank" rel="noreferrer noopener">XRP </a>bulls is that the dominance of Bitcoin is at boost once again.&nbsp; 
He further went on to add that a spin from XRP to Bitcoin could result in a bloodbath of liquidations. The data from CoinMarketCap reveals that the market capitalization of Bitcoin is $1.94T with a price hovering around $98,278 at the time of writing.&nbsp; The speculation of traders&nbsp; 
Some traders are speculating that the dominance of Bitcoin may go up to the range of 60% to 70% before the rotation of capital into altcoins starts. The analyst mentioned that we have witnessed many quick twist purchases by retail over the last few weeks and open interest is now near to multiplying the levels we witnessed in 2021 by two.&nbsp; 
Also, the market appears to have built a thirst for leveraged long XRP exposure. I have been looking for XRP long being loaded even if the prices go down. At the time of writing, the price of XRP is hovering around $2.25 and is down by 5.76% in the last 24 hours.&nbsp; 
The analyst revealed it is starting to seem like the market could be near euphoria territory. For the majority of this year, the price of XRP was in a narrow range starting from $0.48 to $0.73. A change was witnessed after the election result on November 5 when Donald Trump was declared as the new president. The result drove a significant 431% rally and the price of XRP reached $2.85 on December 3.&nbsp; XRP’s data&nbsp; 
A data from cryptocurrency futures trading and information platforms reveals that on Thursday, the Open Interest (OI) of XRP reached $3.44. It was about $1.44 billion up from the $2 billion open interest XRP which was recorded in April 2021 at the time of a similar price rally.&nbsp; 
In comparison with Bitcoin, the XRP relative strength or the XRP/BTC ratio is 0.00002375. It is 2.72% up after December 5 and 47.6% up in the last 30 days. Pav Hundal revealed that if there is any stability in Bitcoin then it could calm nerves and spot volumes could take up again.&nbsp;

XRP falls by 18% after reaching its yearly high

Todayq News

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