Bitcoin

April

As the rise in Bitcoin (BTC) and XRP has slowed in the last few days, some investors are nervous about this decline, while others are expecting a strong recovery. 
An analyst assessing the state of Bitcoin and XRP has warned of a potential bloodbath in XRP as Bitcoin dominance increases. 
Pav Hundal, chief analyst at cryptocurrency exchange Swyftx, noted that if Bitcoin dominance continues to grow, XRP could fall and the majority of long positions in XRP could be liquidated. 
<blockquote> 
 “The real danger for XRP bulls, who are currently heavily leveraged, is a return to Bitcoin dominance. 
 A rotation from XRP to Bitcoin would likely lead to a long liquidation bloodbath.” 
</blockquote> 
Stating that investors' expectations for an increase have increased after the incredible rise in XRP, the analyst said that investors are open to long positions even as the XRP price falls. 
At this point, citing CoinGlass data, the analyst noted that XRP's open interest (OI) reached $ 3.44 billion on December 5, pointing out that this figure is much higher than the $ 2 billion recorded during the price increase in April 2021. 
Finally, the analyst added that he predicts that spot volumes and prices for XRP and altcoins could increase again once Bitcoin stabilizes and its dominance declines. 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/analyst-reveals-the-real-danger-awaiting-ripple-xrp-bulls/">Analyst Reveals the Real Danger Awaiting Ripple (XRP) Bulls!</a>

Analyst Reveals the Real Danger Awaiting Ripple (XRP) Bulls!

Bitcoin Sistemi EN

Other articles published on Dec 6, 2024

U.S. Spot Ethereum ETFs Record $165.5 Million in Net Inflows on December 4

Florida Plans To Launch Bitcoin Reserve by Q1 2025

Don’t Sell Your XRP: Expert Lists 8 Reasons

Make Up for Lost Time if You’ve Missed VeChain: Qubetics Is Where You Should Be

BTFD Coin Stuns Investors As One of The Best Meme Coins to Join in December 2024 with $1 Million ...

Ethereum continues long-awaited comeback with a surge past $4,000

Join our free newsletter for daily crypto updates!