🟨Swyftx analyst Pav Hundal has warned of a potential “bloodbath” for XRP traders amid Bitcoin’s rising dominance. He noted that the strengthening of the digital gold could trigger a massive capital rotation, causing XRP prices to plummet and resulting in significant losses for investors using high leverage.
🟨Hundal highlighted the increasing open interest in XRP futures, which recently peaked at $4.29 billion before dropping to $3.54 billion. By comparison, the figure did not exceed $2 billion in 2021. According to the analyst, the market is nearing euphoria, but Bitcoin’s dominance could rapidly shift the dynamics.
🟨Bitcoin’s stabilization could prevent this negative scenario, as seen on December 5, when capital inflows into Bitcoin reached $7.1 billion.