Bears Bet Big as XRP Shorts Reach $2 Billion

XRP's rebound from its September 16 low of $1.25 to around $1.48 has not deterred bears from betting against it, with XRP shorts reaching $2.18 billion in 24-hour volume.

This is slightly above the long positions at $2.12 billion, indicating a narrow gap between bullish and bearish traders after the 18.5% recovery.

Despite the rebound, smart money sentiment turned extremely bearish on Binance and Bybit, while OKX showed an opposite trend with an Extremely Bullish reading.

The short liquidations dominated, with nearly $8 million in shorts wiped out over 24 hours, and total 24-hour liquidations reached $9.46 million.