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 <p class="is-style-lead">24hrsCrypto’s host Tom revealed in a video that he has opened a sizable <a rel="noopener noreferrer nofollow" title="leverage" href="https://thebittimes.com/tag/leverage.html">leverage</a>d long position in XRP, the native token of the Ripple blockchain.</p>
 <p>Tom believes XRP is poised for a rebound after seeing heavy selling pressure recently.</p>
 <p>XRP has found support around the $0.61 level, holding strong even amid the broader crypto market downturn. Tom thinks this indicates there is significant buying interest around this price zone.</p>
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  <div class="wp-block-embed__wrapper"><iframe title="I Just Opened A MASSIVE 51,000 XRP Long, This Can Be HUGE If We Wick DOWN! [Trade Tutorial]" width="1020" height="574" src="https://www.youtube.com/embed/hhii-XYb6fQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
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 <p>To capitalize on a potential bounce, Tom has opened a 51,000 XRP (around $31,100) long with 53x <a rel="noopener noreferrer nofollow" title="leverage" href="https://thebittimes.com/tag/leverage.html">leverage</a>. At the time of his bet, the alt coin was priced at around $0.61. This gives him substantial exposure. However, it also leaves his position vulnerable to liquidation if XRP falls much below his entry price.</p>
 <div class="cn-block-related-link">
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> XRP price to maintain bullish momentum, analyst predicts
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 <p>YouTuber acknowledges the risks involved with using such high <a rel="noopener noreferrer nofollow" title="leverage" href="https://thebittimes.com/tag/leverage.html">leverage</a> but believes the potential upside is worth it. He points to previous instances where XRP wicked down to this support level before rebounding sharply.</p>
 <p>The channel host says he will monitor the trade closely in case he needs to adjust his limit buy order. For now, he is waiting patiently for his desired entry price to be hit, at which point his XRP long will open automatically.</p>
 <p>At the time of writing, XRP is trading at $0.65, down 9% in the last seven days.</p>
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   <img decoding="async" width="1444" height="792" src="https://cdn.thebittimes.com/images/2023/11/14/5e474e32d88b393dc241b6d976651ef0.webp" alt="YouTuber gambles on XRP's recovery with high leverage - 1"> 
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   XRP price in 7 days | Source: CoinMarketCap
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 <p>The trade highlights Tom’s bullish outlook on XRP in the short-term as well as his high-risk trading style using <a rel="noopener noreferrer nofollow" title="leverage" href="https://thebittimes.com/tag/leverage.html">leverage</a>. It serves as an example of how active crypto traders aim to profit from volatility in the market.</p>
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Ripple’s XRPL solution readies for significant upgrade
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/youtuber-gambles-on-xrp-s-recovery-with-high-leverage-tbt70134.html">https://thebittimes.com/youtuber-gambles-on-xrp-s-recovery-with-high-leverage-tbt70134.html</a></p>

YouTuber gambles on XRP’s recovery with high leverage

TheBitTimes

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