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<p>Comments from Swyftx lead analyst Pav Hundal have ignited concerns among XRP investors about a potential “bloodbath” scenario for <a href="https://captainaltcoin.com/top-analyst-reveals-three-key-events-likely-to-explode-ripple-xrp-price/" target="_blank" rel="noopener noreferrer nofollow">Ripple’s token</a>.&nbsp;</p>
<p>Hundal, in an interview, explained the potential risks associated with the current state of XRP leverage and Bitcoin dominance. However, optimism remains within the <a class="wpil_keyword_link" href="https://captainaltcoin.com/ripple-xrp-price-prediction/" title="XRP" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">XRP</a> community, as there are reasons why the token could still achieve key milestones soon.</p>
<h2 class="wp-block-heading" id="strong-analyst-identifies-risks-for-xrp-bulls-amid-bitcoin-dominance-strong"><strong>Analyst Identifies Risks for XRP Bulls Amid Bitcoin Dominance</strong></h2>
<p>Pav Hundal highlighted the dangers posed by increased Bitcoin dominance, noting its potential to trigger a shift of capital from XRP to Bitcoin. This reallocation, according to Hundal, could lead to a wave of liquidations for leveraged XRP positions.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;"> INSIGHT: <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$XRP</a> bulls could face ‘bloodbath’ if Bitcoin dominance rises: Analyst<br><br>“The real danger right now for highly leveraged XRP bulls is that Bitcoin dominance increases again. A rotation from XRP to Bitcoin would very likely lead to a bloodbath of liquidations,” crypto… <a href="https://t.co/BC8HNdrFgJ" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/BC8HNdrFgJ</a></p>— Cointelegraph (@Cointelegraph) <a href="https://twitter.com/Cointelegraph/status/1864937870667964907?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">December 6, 2024</a>
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<p>The expert noted that it would be dangerous for highly leveraged XRP bulls if Bitcoin dominance increased again. Hundal also observed that XRP’s open interest has doubled compared to levels seen in 2021, suggesting heightened speculative activity.&nbsp;</p>
<p>He noted a rise in funding rates across multiple exchanges, with retail investors seemingly favoring leveraged long positions on <a href="https://www.ccn.com/analysis/crypto/xrp-down-descending-triangle-top/" target="_blank" rel="noopener noreferrer nofollow">XRP despite declining prices</a>. While Binance’s funding rates remain moderate, Hundal warned that other platforms indicate a heated market.&nbsp;</p>
<p>However, he suggested that stability in Bitcoin’s price could alleviate market anxiety and potentially boost spot trading volumes for XRP.</p>
<h2 class="wp-block-heading" id="strong-xrp-s-all-time-high-still-a-target-strong"><strong>XRP’s All-Time High Still a Target?</strong></h2>
<p>Despite the warning signs, Ripple’s XRP retains strong potential, according to market trends and historical performance. The token has yet to surpass its all-time high (ATH) from 2018, a milestone many expect during an altcoin market rally.&nbsp;</p>
<p>Comparisons with Ethereum (ETH), which also has not broken its previous ATH, underscore the broader trend of delayed price peaks in the current cycle.</p>
<p>This sentiment is further bolstered by the steadfast support of the XRP community. Retail investors remain a driving force, continuously backing the token through market swings.&nbsp;</p>
<p><em>Read also: </em><a href="https://captainaltcoin.com/heres-why-solana-sol-price-could-be-set-for-a-rally-to-new-all-time-highs/" target="_blank" rel="noopener noreferrer nofollow"><em>Here’s Why Solana (SOL) Price Could Be Set for a Rally to New All-Time Highs</em></a></p>
<h2 class="wp-block-heading" id="strong-alternate-views-support-bullish-momentum-for-xrp-strong"><strong>Alternate Views Support Bullish Momentum for XRP</strong></h2>
<p>Adding to the optimism, an update from crypto analyst EGRAG CRYPTO suggests that XRP is entering what he calls a “Face-Melting Phase.”&nbsp;</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#XRP</a> Face-Melting Phase &amp; The Unicorn <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f984.png" alt="🦄" class="wp-smiley" style="height: 1em; max-height: 1em;"> (Update):<br><br>On November 25th, I said the preparation phase was between $1.6-$1.96. But let’s be real—<a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#XRP</a> loves to F**k-Up even simple charts, including mine! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f602.png" alt="😂" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Instead of sticking to the plan, it skipped ahead and touched the… <a href="https://t.co/iOXv4lBiFO" target="_blank" rel="noopener noreferrer nofollow">https://t.co/iOXv4lBiFO</a> <a href="https://t.co/yEY2bKq5ex" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/yEY2bKq5ex</a></p>— EGRAG CRYPTO (@egragcrypto) <a href="https://twitter.com/egragcrypto/status/1864977639275950401?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">December 6, 2024</a>
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<p>In a tweet, the analyst highlighted key price levels, identifying $2 as a critical support zone. He emphasized the importance of XRP maintaining closures above this threshold across multiple timeframes to secure <a href="https://www.forbes.com/sites/greatspeculations/2024/12/06/up-300-in-a-month-xrp-is-just-getting-warmed-up/" target="_blank" rel="noopener noreferrer nofollow">upward momentum</a>.</p>
<p>EGRAG CRYPTO’s assessment also touched on a potential price dip to $1.20 or $1.00.&nbsp;</p>
<p>However, he viewed such a scenario as an opportunity for accumulation rather than a setback. “You’ll never see it under $1 again in your lifetime—or your grandkids’ lifetime,” he asserted, further energizing the XRP community.</p>
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<p>The post <a href="https://captainaltcoin.com/analyst-warns-of-xrp-price-bloodbath-but-heres-why-ripples-token-holders-shouldnt-worry/" rel="noopener noreferrer nofollow">Analyst Warns of XRP Price ‘Bloodbath,’ But Here’s Why Ripple’s Token Holders Shouldn’t Worry</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Analyst Warns of XRP Price ‘Bloodbath,’ But Here’s Why Ripple’s Token Holders Shouldn’t Worry

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