Ripple's XRP decline, despite Trump's pro-crypto SEC Chair nominee, can be attributed to several factors.

- Market Focus Shift: $BTC 's historic $100,000 breakout has shifted the market's focus, leading to reduced activity and trading volume for $XRP XRP. This shift in attention has resulted in XRP being temporarily sidelined.

- Long Liquidations: A significant wave of liquidations, totaling $55.92 million in XRP positions, has amplified the price drop . Many traders were heavily leveraged, betting on XRP's continued rally, but the price dip triggered automatic closures of these positions, creating a snowball effect.

- Profit-Taking: After XRP's impressive 65.6% gain in November, driven by optimism around Ripple's expanding partnerships, some investors are taking profits. This profit-taking has led to a short-term correction.

- Ripple's Ongoing Legal Battle: Despite Trump's pro-crypto nominee, Ripple's ongoing legal battle with the SEC casts a shadow over XRP ¹. The appeal process is expected to last through mid-2025, with a final verdict anticipated in early 2026.

- Negative Sentiment in Derivatives Markets: Bearish sentiment in XRP's derivatives markets, reflected in a -0.0885% funding rate, indicates strong demand for short positions and broader pessimism about XRP's short-term prospects .#BURNGMT #AltSeasonBoom?