XRP Price Drop Warning: Profitable Traders Increase Positions by 2.1 Million XRP Short Positions
Santiment reports that a trader was previously bearish on XRP, expecting it to fall to around $0.99; since the release of that view, XRP has already fallen by about 10%, making this judgment seem more valid. If XRP closes above $1.36, this bearish view will no longer hold. XRP still needs to fall by about 17% to reach that target price, which at the current price would be around $1.19.
Santiment pointed out that this trend emerged during a period of widespread selling in the entire crypto market, so timing may have played a certain role.
Wallet data also adds weight to the bearish perspective. In the most profitable XRP wallet, there is only one holder of a long position, and there have been no active transactions since August. Three active bears have collectively increased their positions in XRP by about 2.1 million units since the end of October.
On the Score platform of Santiment, all traders who placed bets against this view are currently in a loss-making state. This prediction will be settled on November 19th.
