Bitcoin Maximalists May Flee BTC for XRP Amid Record High Hopes

XRP has been struggling this year, down about 42% from its start-of-year price. Meanwhile, Bitcoin is at $62,565, down around 28.5% over the same period.

A claim has emerged that even hardline Bitcoin supporters could sell BTC and move into XRP if it sets a new all-time high. Vandell Aljarrah, co-founder of Black Swan Capitalist, made this suggestion on social media platform X.

Aljarrah believes that market sentiment can shift quickly if XRP starts a sharp rally and posts a record high. He said: 'If XRP reaches a new all-time high, there is a high chance Bitcoin maximalists will dump BTC and move to XRP.'

Some in the market have agreed with Aljarrah's assessment, while others are more skeptical. Technical analyst ChartNerd pointed out that even if people who have invested only in Bitcoin do move into XRP, they may miss the core part of the rally if they chase the move after a sharp rise in XRP.

On the other hand, Christopher Schwartz argued that some Bitcoin supporters may not shift positions because of strong convictions. He noted that many view XRP extremely negatively and would try to maintain their existing stance rather than admit they were wrong.