Leveraged Funds' $115 Million XRP Short Exposes Them to Rising Token

Leveraged funds have more than doubled their net short position in XRP on the CME, holding 2,314 contracts, equivalent to about 115.7 million tokens.

This increase came during a sharp recovery in the token, which has rebounded about 32% from $1 this month, trading near $1.38 as of press time.

The expansion of net short exposure by leveraged funds adds pressure on the potential for another rally in XRP, as the category added 58.35 million token net shorts during a week when the token was already recovering.