An expert believes that a “bloodbath” awaits XRP holders

Swyftx crypto guru Pav Hundal said that all investors who hold XRP in their portfolio can expect a so-called “bloodbath” if bitcoin continues to rise upwards.

According to the crypto analyst, a very big danger for all the high leverage bulls is the very strengthening of bitcoin. After a big capital rotation and digital gold, there is speculation to see a big copy-cat collapse on the asset and then traders will suffer big losses.

The analyst emphasized that the current market situation shows an increase in open interest in XRP futures trading to levels that are twice as high as they have been since 2021. We would like to recall that a few days ago this figure jumped to $4.29 billion, but after a while it fell to $3.54 billion. If we compare with April 2021, this figure did not even exceed $2 billion.

Analyst Pav Hundal sees the current situation as a near euphoria among traders. Although everything can change at any moment, if bitcoin starts to grow in the medium term, explains the specialist himself.

Only after the digital gold stabilizes, the negative scenario can be avoided and the slot market will start to grow steadily upwards, the expert explained. It all happened on December 5, when the capital gain reached $7.1 billion.